Freedom Capital last night initiated coverage of Roblox (RBLX) with a Hold rating and $99 price target The shares deserve a premium to the broader video game peer group, with Roblox growing at a “best-in-class” rate and generating substantial amounts of cash flow, the analyst tells investors in a research note. However, Freedom believes legal and regulatory risks, as well as the potential for slowing user growth, as Roblox cracks down on fake accounts may bring “choppy waters ahead.”
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