Why Meta Platforms Investors Were Nervous on Thursday
Shares of Meta Platforms (NASDAQ: META) were lower on Thursday, slipping by as much as 3.3%. As of 10:30 a.m. ET, the stock was down 1.7%.
The broader market was trending decidedly lower today, which no doubt contributed to the stock's decline, but the catalyst that likely sparked the move lower was bearish sentiment expressed by a Wall Street analyst.
JMP Securities analyst Andrew Boone lowered his price target on Meta Platforms to $240, down from $265, while maintaining his outperform (buy) rating on the stock, according to The Fly. Yet, even at the reduced price target, this still represents potential upside for investors of roughly 46% compared to Meta's closing price on Wednesday.
Source Fool.com
