New Street Research Downgrades Meta Platforms Inc. (META) to Neutral, 'Re-rating likely over, we move to the sidelines'

New Street Research analyst Dan Salmon downgraded Meta Platforms Inc. (NASDAQ: META) from Buy to Neutral with a price target of $220.00.

The analyst comments "We are downgrading META to Neutral from Buy, with an unchanged price target of $220. No major change in view but we see better opportunities for upside in our coverage from here after META’s outperformance relative to the group. No change in coverage pecking order rank (#5 of 7). The Year of Efficiency re-rating is likely complete and while incremental cost cuts could help boost estimates, they are unlikely to impact the multiple materially."

For an analyst ratings summary and ratings history on Meta Platforms Inc. click here. For more ratings news on Meta Platforms Inc. click here.

Shares of Meta Platforms Inc. closed at $221.49 yesterday.

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