JMP Securities raised the firm’s price target on Reddit (RDDT) to $190 from $160 and keeps an Outperform rating on the shares. JMP is “broadly positive” into Q4 digital advertising earnings, as the firm believes the advertising environment is healthy, driven by positive consumer spending over the holiday period, the contribution of political ad spend, and better business sentiment, while the uncertainty around and disruption to TikTok likely aided the coverage universe, the analyst tells investors in a research note. The firm expects operational momentum to continue for Reddit.
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