US Top Rating Updates on 10/27: META, PDD, RACE, TER and More

Morgan Stanley analyst Brian Nowak downgraded $Meta Platforms(META.US)$ to Equal Weight from Overweight with a price target of $105, down from $205, following last night's results. The analyst sees Meta's $69B of capital expenditures over two years and artificial intelligence-driven data center build "as a sign of structurally higher capital intensity."

JPMorgan analyst Matthew Boss downgraded $VF Corp(VFC.US)$ to Underweight from Neutral with a $29 price target. The company reported "mixed" Q2 results and a second half of the year guidance cut, Boss tells investors in a research note. The analyst now sees an extended turnaround timeline.

Raymond James analyst Brian Gesuale initiated coverage of $Mercury Systems(MRCY.US)$ with an Outperform rating and $55 price target. Mercury is the leading platform-agnostic provider of trusted computing and processing solutions used in national defense/aviation systems, Gesuale tells investors in a research note.