Citi analyst Ronald Josey raised the firm’s price target on Reddit (RDDT) to $250 from $220 and keeps a Buy rating on the shares. Citi also opened an “upside 90-day catalyst watch” on Reddit ahead of the Q3 report on October 30. The firm believes the company’s app and web redesign could drive user growth. In addition Citi’s channel checks show continued monetization momentum for Reddit, the analyst tells investors in a research note.
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