BofA Cuts Price Target On This Social Media Giant By 12%

• BofA analyst Justin Post lowered Meta Platforms Inc's (NASDAQ:FB) price target to $290, down from $330, but reiterated a Buy. The price target implies an upside of 54%.
• Post noted that Russia's invasion of Ukraine would have a "modest impact" on advertising sales of the Facebook parent.
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• Meta's advertising had 1.5% exposure to Russian advertisers. Meta saw "softness" in Western Europe due to Russia's invasion.
• Meta previously restricted its services in Russia, followed by relaxing its content moderation policy, irking Russia.
• Price Action: FB shares traded higher by 0.39% at $188.34 on the last check Monday.