AppLovin price target raised to $560 from $543 at Wells Fargo

Wells Fargo analyst Alec Brondolo raised the firm’s price target on AppLovin (APP) to $560 from $543 and keeps an Overweight rating on the shares. The firm says checks are improving and buy-side sentiment is negative. Wells sees positive setup into Q1 EPS. Checks suggest Q1 IAA industry growth above normal seasonality, AppLovin holding share and Meta Platforms (META) progress limited, the firm adds.

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