HSBC analyst Nicolas Cote-Colisson downgraded Meta Platforms to Reduce from Hold with an unchanged price target of $110. The company’s Q4 results showed higher engagement, but revenue was still down, the analyst tells investors in a research note. The firm says headwinds for the company include the macro environment, competition and regulation versus one "longer-term tailwind that is Meta’s lead in Metaverse." The recent share rally leads HSBC to downgrade the shares to Reduce.
Published first on TheFly
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