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Benzinga
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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