Shares of Facebook parent Meta Platforms (META.O) up 1.3% at $532.45 premarket
Morgan Stanley cuts PT on META to $775 from $825, still implying a 47% upside to the stock’s last close
Brokerage retains “overweight” rating on the stock and names it ‘top pick’, citing attractive valuation and cost savings from potential workforce reductions
We think a potential 20% workforce reduction, if confirmed, could save anywhere from $3-10bn annually… said another way, we think it could add another $1+ of EPS in ‘27 - Morgan Stanley
59 of 66 brokerages rate the stock “buy” or higher, and seven “hold”; their median PT is $855.5 - data compiled by LSEG
As of last close, stock down 20.4% this year

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BUZZ-Morgan Stanley cuts Meta PT, names stock its 'top pick'; shares rise