Mizuho analyst Lloyd Walmsley has raised Meta's price target to $750, stating that the Meta bull case is increasingly playing out. Walmsley's bullish outlook is based on the rapid growth of Muse, Meta's AI agent, and the upcoming Meta Connect event, which is expected to showcase the convergence of hardware, model, agent, and commerce.
Muse has rapidly become the No. 1 free app in the app store, with 730,000 downloads achieved in five days and 2.5 million cumulative downloads by September 21. The upcoming Meta Connect event, scheduled for September 23-24, should move the Muse story from app adoption to platform creation, according to Walmsley.
Meta's Connector Platform, opened to third-party developers on September 18, is expected to establish transaction-based monetization, potentially through a take rate on businesses trying to reach Muse users. Shopify has activated checkout within Muse alongside Stripe, while Amazon has blocked Muse, which Walmsley views as validation of its growing scale.
Meta is rated Outperform by Mizuho, with a trading valuation multiple of 22 times its 2027 earnings. Walmsley's bullish outlook is supported by the potential for Meta to disintermediate Google search, online travel agents, and e-commerce advertising, as indicated by CEO Mark Zuckerberg.
