Meta Platforms' (NASDAQ: META) shares were inching higher today even though two analysts cut their price targets for the tech company today. Investors brushed off the analysts' opinions and instead took their cue from a generally optimistic sentiment in the market today.
The S&P 500 was up by 1.9% and the tech-heavy Nasdaq Composite gained 2.3%, which likely helped buoy Meta's stock, which was up by 4.6% as of 12:24 p.m. ET.
Morgan Stanley analyst Brian Nowak lowered his price target for Meta's stock from $300 down to $280 today, but kept an overweight rating on the stock. Nowak mentioned a slowing advertising market for this year and next as the reason for the price target cut.
Source Fool.com