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

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.

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