Meta Platforms Inc (NASDAQ:META) shares are trading higher Tuesday. What's going on?
Barclays analyst Amos Fletcher maintained Meta with an Overweight rating and lowered the price target from $370 to $280.
Related Link: Expert Ratings for Meta Platforms
Some tech stocks are also trading higher as Treasury yields fall amid economic growth concerns. Lower rates increase the present value of future cash flows, which can positively impact the valuations of growth stocks. The 10-Year Treasury yield was hovering around 2.796% at press time.
META Price Action: Meta has a 52-week high of $384.33 and a 52-week low of $154.25.
The stock was up 3.59% at $165.69 at press time, according to data from Benzinga Pro.
Photo: Gerd Altmann from Pixabay.
