Meta Platforms' Core Growth, Muse Opportunity Support Further Upside, Morgan Stanley Says

11:00 AM EDT, 10/22/2026 (MT Newswires) -- Meta Platforms' (META) core business continues to show a "long" growth runway, while emerging artificial intelligence products such as Muse offer additional opportunities that are not priced in shares, Morgan Stanley said in a note Thursday. The investment bank said Meta's core business continues to impress, with double-digit growth in time spent on Facebook and Instagram, improving advertising conversion and lower content processing costs after the company moved content understanding models to its Muse model family. Muse remains an early agentic leader, Morgan Stanley said, noting that more than 10 million users created personal agents during the first six weeks in the US and Canada, with about 25% using Muse daily. Shopping has emerged as the leading use case, supporting the firm's view of longer-term monetization potential, according to the note. Calling Meta the "cleanest consumer GenAI winner," the investment bank said Meta has multiple call options not priced in shares, including Muse, subscriptions, business agents, and enterprise and API offerings. Morgan Stanley maintained an overweight rating on Meta Platforms, with a price target of $820. Price: 652.58, Change: -44.94, Percent Change: -6.44