Meta Platforms META.O fell 1.2% in early trading on Wednesday after agreeing to pay up to $16.68 billion to settle claims it designed Facebook and Instagram to addict children.
The settlement with 29 states averts a federal trial and includes new nationwide safeguards for teen users, though the company denied wrongdoing.
Meta, along with peers including Snap SNAP.N and Alphabet GOOGL.O, still faces thousands of other lawsuits over alleged harm to young users.
Meta has an average analyst rating of "buy" among 65 brokers; median PT is $750 - data compiled by LSEG.
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