5 big analyst picks: Meta nabs another upgrade | Pro Recap
Investing.com | Author Davit Kirakosyan
Published Mar 23, 2023 06:00
By Davit Kirakosyan
Investing.com -- Here is your daily Pro Recap of the biggest analyst picks you may have missed since yesterday.
Meta earns one more upgrade this week/h2
KeyBanc upgraded Meta Platforms (NASDAQ:META) to Overweight from Sector Weight with a price target of $240.00, noting it now sees the company as a leaner business after the announcement of the second big round of layoffs.
This comes just one and two days after Morgan Stanley and Edward Jones upgraded the stock.
KeyBanc believes the latest cost-cutting measures, which led to an approximately 10% reduction in the company's 2023 operating expense guidance, along with improvements in CPMs due to a combination of product launches, foreign exchange rates, and better spending practices, will result in an operating margin of at least 31% by 2024.
As a result, the firm now projects Meta's
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