Canaccord raised the firm’s price target on Roblox (RBLX) to $160 from $125 and keeps a Buy rating on the shares. The firm said they x reported very impressive Q2 results, with DAU, bookings, and profitability all well ahead of what were already heightened expectations. They said shares are certainly not cheap, although they believe a premium valuation is seemingly more warranted than ever given a rare combination of bookings growth and margin expansion, with further upside on tap from advertising and commerce initiatives.
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