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Morgan Stanley Downgrades Meta for First Time as Costs Soar

  • Cowen, KeyBanc also downgrade stock for the first time ever
  • Morgan Stanley slashes target by nearly half to $105/share
Bloomberg business news
Meta Gives Revenue Forecast on Low End of Forecasts

Morgan Stanley cut its rating on Meta Platforms Inc. for the first time ever, forecasting the stock will lag until the social media giant’s “outsized investments” in the metaverse start to pay off. 

Shares of the Facebook parent were down 20% in premarket trading after it gave a disappointing quarterly revenue outlook.