BUZZ-Citigroup and BofA raise PT on AppLovin, citing lower risks and strong growth potential
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Citigroup and BofA have raised their price targets (PT) for AppLovindue to lower execution risks and strong growth potential. Citigroup increased its PT to $850 from $600, while BofA raised its PT to $860 from $580, anticipating AppLovin will become essential for eCommerce advertising by 2026. Currently, 21 of 26 brokerages rate the stock as "buy" or "higher," with a median PT of $620. The stock has risen 124% year-to-date.
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