AppLovin price target raised to $475 from $450 at UBS

UBS raised the firm’s price target on AppLovin (APP) to $475 from $450 and keeps a Buy rating on the shares. AppLovin’s Q1 results reflected another quarter of broad-based strength, the analyst tells investors in a research note. The acknowledgement of “playing around with exclusionary targeting,” even if it’s too early in the product lifecycle to implement, indicates a willingness to engage with advertiser requests which should support further new advertiser demand, UBS argues.