Meta Platforms got a price target increase from JPMorgan.

Meta Platforms, whose new Muse AI agent has driven the stock prices of the tech sector this week, got a price-target boost after showcasing products at its Connect conference on Wednesday night.

JPMorgan analysts led by Doug Anmuth boosted its Meta target to $920 from $820. The stock (META) fell 2% to $729.59 in premarket, having rallied by 30% over the last month.

JPMorgan's enthusiasm was stoked by Muse, which it says has the potential to become "the most widely used consumer AI application since ChatGPT."

See MarketWatch's live coverage: Mark Zuckerberg champions an AI device for every scenario at Meta's big conference

Meta on Wednesday night pointed out that the AI agent can now tap into "connectors" with Walmart (WMT), Best Buy $(BBY)$, Sephora and Wayfair $(WTI3)$. (Amazon (AMZN), notably, is preventing the agent from accessing its store.) The JPMorgan analysts said, over time, Meta should be able to monetize sales made this way, through a take-rate or commission model.

Morgan Stanley analysts led by Brian Nowak kept their $775 target on Meta. They said Meta may have finally cracked virtually-reality glasses with a lighter and less bulky offering.

"While we (and most investors) have been skeptical of META's AR/VR efforts in recent years, this product does seem to be a notable improvement in size and capabilities and will have to be watched as a potential further upside node for '27 (with META shares not pricing in any success here)," they wrote.

-Steve Goldstein