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Ibotta price target raised to $60 from $52 at Wells Fargo

Wells Fargo raised the firm’s price target on Ibotta (IBTA) to $60 from $52 and keeps an Overweight rating on the shares. The firm says performance has likely bottomed, reinforced by a forward quarter guide in line with expectations. Much work appears still to be done, however, to re-tool the sales strategy and reaccelerate revenue growth, Wells argues.

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