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Reddit initiated with a Buy at Jefferies

Jefferies initiated coverage of Reddit with a Buy rating and $90 price target The firm estimates the company’s EBITDA more than doubles in the next two years to $450M, 12% above the 2026 consensus, driven by “peer-high” growth in users and a nascent opportunity to close the monetization gap to peers. The analyst also anticipates additional high-margin data licensing deals as expanding use-cases for generative artificial intelligence increase the value of Reddit’s database of contextual content.

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