• by Joe Mandese  @mp_joemandese, March 29, 2022

On the heels of IPG Mediabrands’ Magna’s downward revision for U.S. ad spending, the equity research team at Morgan Stanley has also reduced its price targets for some digital advertising-centric media suppliers.

Citing the “winds of macro uncertainty” caused by Russians invasion of Ukraine, Morgan Stanley’s Brian Nowak trimmed the stock price targets for Google, Meta, Pinterest, Twitter, Snap, Criteo and others.

Without citing specific companies, Magna revised its estimate for U.S. digital ad-spending growth down a percentage point to 16% in its updated forecast released on Monday from the 17% growth rate it was projecting in December.