Roblox price target raised to $120 from $100 at JPMorgan

JPMorgan raised the firm’s price target on Roblox (RBLX) to $120 from $100 and keeps an Overweight rating on the shares, noting that Grow A Garden has reached about 20M concurrent players each of the past two weekends, calling this a “historic level of player engagement” as well as “a scale that Roblox and the broader gaming industry have never seen before.” The rise of Grow A Garden has coincided with shares trading up over 100% since early April, notes the analyst, who has “meaningfully” increased the firm’s estimates for Roblox.