Duolingo price target raised to $298 from $292 at BofA

BofA raised the firm’s price target on Duolingo to $298 from $292 and keeps a Buy rating on the shares after the company held its annual conference, DuoCon 2024, which focused on showcasing two new premium AI-powered features to its Max tier subscription. Following the conference, the firm raised its multiple and price target slightly to reflect continued confidence in earnings upside, the analyst tells investors.