Here’s Why This Analyst Downgraded Facebook Parent Meta

By Benzinga
February 25, 2022 Updated: February 25, 2022

Erste Group analyst Hans Engel downgraded Facebook parent Meta Platforms to Hold from Buy.

Facebook invested 21.7 percent of revenue in research and development in the last quarter, and the intended reorientation toward virtual products and services offers new earnings potential in the future.

However, the development of the new advertising revenues is associated with high costs, which are difficult to forecast.

By Anusuya Lahiri

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