BNP Paribas Reiterates Outperform on Meta as Muse Downloads Top 5.6 Million

BNP Paribas reiterated an Outperform rating and an $885 price target on Meta Platforms, implying roughly 22% upside from its October 1 close. Meta's shares traded up 0.78% at $731.62 following reports that its new artificial intelligence app, Muse, surpassed 5.6 million downloads since its September 8 rollout. Muse's initial U.S. downloads outpaced early trajectories of OpenAI's ChatGPT and Sora, aided by Meta's global distribution network. However, BNP Paribas cautioned that app engagement has settled below legacy platforms and long-term monetization through advertising remains an early-stage question mark.