Wells Fargo raised the firm’s price target on AppLovin (APP) to $405 from $386 and keeps an Overweight rating on the shares. The firm notes the company reported much better-than-expected Q1 results/Q2 guide vs. a backdrop of investor trepidation created by multiple short reports. Outperformance comes before the global launch of self-service, which is likely to cause yet another inflection, Wells adds.
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Read More on APP:
- AppLovin’s Growth Potential: Buy Rating Backed by Strong Revenue Increase and Market Expansion Opportunities
- AppLovin’s Strong Market Position and Growth Potential Drive Buy Rating and Increased Price Target
- AppLovin price target raised to $435 from $335 at Goldman Sachs
- AppLovin’s Strong Q1 Performance and Strategic Moves Justify Buy Rating
- AppLovin’s Strong Financial Performance and Strategic Moves Justify Buy Rating
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