Meta Platforms' shares fell on concerns about upcoming tariffs and a revised analyst price target from Jefferies, amid macroeconomic shifts. The stock, down 2% after opening down 4.1%, reflects the company's vulnerability to advertising budget cuts in recessionary times. Jefferies, while dropping the price target from $810 to $725, maintained a buy rating and did not alter earnings estimates. Despite economic challenges, Meta showed strong growth in 2024 and plans to lead in AI, suggesting future resilience and a potential value with a P/E of 23.5.
Shares of Meta Platforms pulled back due to tariff concerns and a lowered price target from Jefferies amid signs of a softening macro environment.
Meta's CEO highlighted the potential of its AI chatbot, aiming to be the leading option by late 2024, amidst concerns over advertising spend.
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