AppLovin price target raised to $432 from $291 at BTIG

BTIG raised the firm’s price target on AppLovin (APP) to $432 from $291 and keeps a Buy rating on the shares. The firm’s checks continuing to support the ramp of the company’s new business and management’s track record of execution improving, and BTIG is inclined to underwrite larger multi-year contributions from Commerce/Audience+ while valuing the stock on outer-year numbers that more properly embed the value of that business, the analyst tells investors in a research note.