Meta Platforms upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley upgraded Meta Platforms to Overweight from Equal Weight with a price target of $250, up from $190. The analyst cites Meta’s "structural pivot" to focusing on efficiency and return on invested capital, improving revenue and engagements trends, "surging" Reels monetization and "further revenue call options" in artificial intelligence, subscriptions, and click-to-message for the upgrade. The firm also sees the company as the "most durable mega cap" if the consumer weakens. The stock’s valuation still looks attractive, trading at a 33% discount to peers on a growth adjusted basis, the analyst tells investors in a research note.