Ibotta price target raised to $85 from $75 at Raymond James

Raymond James raised the firm’s price target on Ibotta (IBTA) to $85 from $75 and keeps an Outperform rating on the shares ahead of the Q3 earnings report. The firm sees a conducive backdrop for Ibotta, with Retail Media continuing to gain attention and attract promotional spend, the analyst tells investors in a research note. Raymond James notes that the ad market has stabilized, which should lead to a better showing from the company’s display ads business, which was a weak spot in Q2.