Meta Platforms Inc. (META) PT Lowered to $250 at Monness, Crespi, Hardt

Monness, Crespi, Hardt analyst Brian White lowered estimates and the price target on Meta Platforms Inc. (NASDAQ: META) to $250.00 (from $300.00) while maintaining a Buy rating.

The analyst commented, "We believe Meta will continue to benefit from the long-term digital ad trend, participate in accelerated digital transformation, innovate in the metaverse, and repurchase stock at a generous pace; however, the economy appears to be on the brink of a recession, regulatory headwinds persist, equity markets are in turmoil, and we expect the geopolitical landscape will grow more treacherous. We are lowering our estimates and cutting our 12-month price target to $250 from $300."

For 2Q:22, they are lowering their revenue estimate to $28.68 billion (down 1%) from $29.68 billion and reducing EPS their forecast to $2.56 from $2.58. For 2022, they are lowering the revenue estimate to $119.55 billion (up 1%) from $127.05 billion and reducing their EPS forecast to $11.55 from $12.26.

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