Meta Platforms price target lowered, named a new Top Pick at Morgan Stanley

Morgan Stanley analyst Brian Nowak lowered the firm’s price target on Meta Platforms (META) to $775 from $825 and keeps an Overweight rating on the shares, which were named as a new Top Pick by the analyst. Meta sentiment has troughed due to fears about generative AI and long-term positioning, as well as macro ad market and regulatory question marks more recently, argues the analyst, who says Meta will “grow faster for longer” and sees potential agentic catalysts, making the current depressed multiple a “strong buying opportunity.”