Shares of tech giant Meta Platforms are set to jump over 10% in the next 12 months, according to Brian Nowak, an equity analyst at Morgan Stanley.
While Meta has been on investors' radars, the stock was under pressure last month during a recent tech sell-off.
META YTD mountain Year-to-date share price of Meta Going forward, Nowak remains overweight on the tech giant.
Nowak also believes the tech giant's strength comes from the discipline on its operating expenditure.
It will also result in incremental Reels ad revenue of $11.4 billion in 2024 and $12.9 billion in 2025, the analysts led by Nowak detailed.
Persons:
Brian Nowak, Morgan Stanley, Susan Li's, –, Li, Nowak, CNBC's, —, Isabella Lok
Organizations:
Meta, Apple, Microsoft, Nvidia, Tesla, Facebook
Locations:
U.S