Morgan Stanley analyst Matthew Cost reiterated an Overweight rating and $800 price target on AppLovin (APP), noting the shares have fallen on fresh worries about disruption to the industry, particularly in mobile ad tech and video games. The stock has sold off on multiple investor concerns, creating a potential opportunity as shares now trade at roughly 15x 2027 EBITDA, the analyst tells investors in a research note. The firm believes ad tech’s best executor is priced for significant risks, some of which are more salient than others.
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