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Benzinga

Business

Anusuya Lahiri

Here's Why Morgan Stanley Slashed Facebook Parent Meta's Price Target by 10%

Facebook Morgan Stanley FB Brian Nowak Benchmark Meta Reels

Morgan Stanley analyst Brian Nowak lowered the price target on Facebook parent Meta Platforms Inc (NASDAQ:FB) to $325 from $360 and reiterated Overweight.
The price target implies an upside of 59.7%.
Nowak noted lower near-term monetization of Reels.
Benchmark analyst Mark Zgutowicz harbored similar feelings and therefore initiated coverage on the stock with a Hold and without any price target.
Erste Group analyst Hans Engel downgraded the stock recently to Hold from Buy.
Price Action: FB shares traded higher by 1.08% at $205.70 in the market on the last check Wednesday.

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