Meta stock surges 7% on Wells Fargo upgrade ahead of Connect event

Meta's stock jumped 7% following Wells Fargo's decision to raise its price target to $796. The upgrade was driven by optimism around Meta's AI model expansion and anticipated announcements at the upcoming Meta Connect event.

Wells Fargo cited Meta Muse and broader artificial intelligence developments as key catalysts for the positive outlook. The brokerage's move suggests confidence in Meta's technology trajectory and product pipeline.