Morgan Stanley notes that TaskUs (TASK) shares declined 13% during January 7 trading as codification of Meta (META) CEO Mark Zuckerberg’s plan to relax content removal protocol appeared to have “spooked” TaskUs investors. However, the pullback was “unwarranted” due to the fact Meta’s plan to cease its fact checking services has “no bearing” on TaskUs’ content moderation business. The firm, which continues to believe TaskUs is growing market share with Meta, reaffirms an Overweight rating and $21 price target on TaskUs shares.
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