Benzinga | Jan 26, 2022 10:33AM EST

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

* 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.