JPMorgan lowered the firm’s price target on AppLovin (APP) to $270 from $475 and keeps a Neutral rating on the shares. Ahead of Q1 earnings, the firm reduced estimates, multiples, and price targets for most Smid-cap internet and video game companies to reflect macro and tariff uncertainty. The analyst cut revenue estimates up to 5%, with the largest revisions to names that face direct tariff and macro risk.
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