Meta Platforms' increased efficiency attracts a Morgan Stanley rating upgrade
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Meta Platforms (NASDAQ:META) trades 2.3% higher premarket after Morgan Stanley raised its rating to overweight (price target of $250) from equal-weight amid the company's efforts to increase efficiency.
The upgrade comes on the heels of the company indicating last week that it plans to lay off ~10K employees and close ~5K additional open roles in its second major round of job cuts in six months.

Analyst Brian Nowak says the upgrade reflects the company's improving revenue, engagement and Reels trends.
Not only did the company report Q4 revenue exceeding analyst estimates, it also expects revenue to be between $26B and $28.5B, topping the $27.25B that analysts were expecting.
In its Q4 statement, Zuckerberg said that the progress Meta is making on its artificial intelligence discovery engine and Reels is being seen in the strong engagement in its apps.
He believes despite a 58.6% gain on YTD basis the valuation still looks attractive.
On an average Wall Street Analysts rating, 28 rate it a Strong Buy, 13 assign it a Buy and 10 rate it a Hold.