AppLovin Corp (APP) PT Raised to $810 at UBS

UBS analyst John Hodulik raised the price target on AppLovin Corp (NASDAQ: APP) to $810.00 (from $540.00) while maintaining a Buy rating.

The analyst comments: "We're reiterating APP as our top pick within our coverage and increase our 12-month price target to $810 with our updated upside case at $1,000 (56% upside). Over the next 12 months, we expect APP to execute on a combination of demand and supply expansion initiatives that could improve the efficacy of Axon 2.0 and in turn deliver estimate and multiple upside. Regarding post-2Q print checks, web-based advertiser checks suggest solid demand for the referral program and an opportunity to drive more awareness amongst agencies that cater to the Fortune 1000 brands. As for mobile gaming checks, we don’t see anything indicating APP’s leadership is being challenged."

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