Meta Platforms shares rose up to 7.6% during Monday's trading session after Wells Fargo analyst Ken Gawrelski raised the stock's price target to $796 from $640.
The rally is linked to early traction for Meta's personal AI assistant, Meta Muse, and increased daily user interactions following the integration of Muse Spark.
Investors are closely watching the upcoming two-day Meta Connect event for updates on AI monetization and user adoption metrics.