Meta Platforms price target raised to $190 from $130 at Morgan Stanley

Morgan Stanley analyst Brian Nowak raised the firm’s price target on Meta Platforms (META) to $190 from $130 and keeps an Equal Weight rating on the shares following last night’s Q4 results. The company’s "cultural change" focused on efficiency is leading to lower spending while its investments drive faster revenue and usage growth, the analyst tells investors in a research note. The firm sees Meta’s cultural change adding further pressure on other big cap tech players competing for investor capital, like Alphabet (GOOG) and Amazon.com (AMZN). Morgan Stanley stays neutral on Meta shares, saying it is focused on revenue growth drivers from here.