AppLovin price target lowered to $20 from $25 at KeyBanc

KeyBanc analyst Tyler Parker lowered the firm’s price target on AppLovin to $20 from $25 and keeps an Overweight rating on the shares ahead of earnings. The firm doesn’t foresee much improvement in the mobile gaming landscape, particularly casual, which mostly fuels the ad monetization segments of these models. Expectations should be low, but KeyBanc expects this earnings season to reiterate a challenging ad market rather than signal recovery.