UPDATE: Meta Platforms Inc. (FB) is Facing Another Rocky Quarter, PT Lowered to $240 at RBC Capital

RBC Capital analyst Brad Erickson lowered the price target on Meta Platforms Inc. (NASDAQ: FB) to $240.00 (from $245.00) after agency checks indicate 'another rocky quarter' likely leading to lower estimates.

The analyst reiterated an Outperform rating, stating "Digital ad spend decisions remain in flux with many SMBs considering new channels away from FB for the first time and we detected no perceived improvement to FB's targeting algo or performance. We'd expect some reversion at some point given FB's audience size and relative scaled conversion advantage (which keeps us at Outperform), but we see that narrative as unlikely to materialize near-term."

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