According to Jefferies' latest research report, Meta's AI agent Muse faces core commercialization bottlenecks related to access rather than model capabilities. After testing hundreds of mainstream U.S. websites, the analyst team found that approximately one-third of websites directly blocked Muse's access, another one-third set up challenges or restrictions, and only about one-third allowed smooth usage. This access friction issue could delay the monetization timeline for Meta's agent commerce and solidify Google's structural advantage. Nevertheless, Jefferies maintained a Buy rating on Meta with a price target of $875, citing robust fundamentals in its advertising business and the positive feedback loop from Muse's popularity to the advertising ecosystem.