Roblox price target raised to $51 from $50 at JPMorgan

JPMorgan raised the firm’s price target on Roblox to $51 from $50 and keeps an Overweight rating on the shares. The firm updated estimates and across its video game coverage ahead of earnings. Global video game industry growth remains tepid, but JPMorgan encouraged by stable mobile trends and expects console spend o improve next year driven by a strong game slate and potential next generation Switch release, the analyst tells investors in a research note. The firm’s favorite names across the group remain Take Two (TTWO) and Roblox (RBLX).