AppLovin price target raised to $365 from $200 at Morgan Stanley

Morgan Stanley analyst Matthew Cost raised the firm’s price target on AppLovin (APP) to $365 from $200 and keeps an Equal Weight rating on the shares. The firm sees GPU enabled and GenAI tool adoption driving fundamental upside and outperformance among the North American Internet group. Among the group, the firm identifies Amazon (AMZN) as its new “Top Pick” as it sees GPU-related investments widening its retail advantage to “take more share, more profitably,” while it calls Meta (META) a “GenAI compounder with multiple call options that could come into view.”