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Benzinga

Business

Anusuya Lahiri

RBC Capital Cuts Meta Platforms Price Target By 3.6% - Read Why

Meta RBC Capital FB Brad Erickson Apple

RBC Capital analyst Brad Erickson lowered the price target on Meta Platforms Inc (NASDAQ:FB) to $400 from $415 but reiterated an Outperform rating on the shares. The price target implies an upside of 32%.
The analyst says the data with 26 agency and ad network channel contacts related to overall spending trends are "mixed."
Erickson adds that while Meta is "winning the Apple Inc (NASDAQ:AAPL) signal loss battle" relative to other social peers, it may also be more exposed to Tiktok risk than investors may realize.
Price Action: FB shares traded higher by 0.65% at $302.10 on the last check Wednesday.

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