Meta's job cuts won't help the company reignite revenue growth, but they're still a reason to like the social-media stock, according to an analyst.
Meta Platforms Inc.’s job cuts won’t help the company reignite revenue growth, but they’re still a reason to like the social-media stock, according to an analyst.
Argus Research analyst Joseph Bonner upgraded Meta’s stock META to buy from hold Tuesday, writing that “the cost cuts do demonstrate prudence by management and should improve profitability,” even though Meta continues to face challenges related to the advertising market and Apple Inc.’s AAPL privacy-related changes.
“We believe that challenges at TikTok and Twitter could benefit Meta, which continues to add users to its platform,” Bonner wrote, noting that “an outright ban of TikTok is by no means certain, any regulatory trouble for this disruptive upstart would be a positive for Meta.”
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