RBC Capital Sees Huge Potential In Facebook Because 'There's Just Nothing Else Quite Like It'

October 1, 2021 9:46 AM | 1 min read |

RBC Capital analyst Brad Erickson initiated coverage of Facebook Inc FB with an Outperform rating and $425 price target, indicating a 25.1% upside.
In a note titled "There's Just Nothing Else Quite Like It," Erickson said the next leg of growth depends on the company's ability to deepen its relationship with its nearly 3 billion users.
He thinks the company is ready to "transition from a social-centric platform to a fuller source of online utility" through multiple product initiatives, he said.
His channel checks have found little fundamental impact from recent IDFA changes, Erickson added.
Price Action: FB shares traded higher by 0.60% at $341.42 in the premarket session on the last check Friday.