Morgan Stanley raises META target to $820 but flags Muse retention at ~20%
Morgan Stanley keeps its Overweight rating and lifts its META price target from $775 to $820 ahead of Q3 earnings — but warns Muse still gets ~300,000 new US downloads a day with only ~20% 14-day retention. Daily actives aren't growing as fast as downloads, so the firm says Muse needs continuous product innovation to build a daily habit.