AppLovin price target raised to $375 from $252 at BofA

BofA raised the firm’s price target on AppLovin (APP) to $375 from $252 and keeps a Buy rating on the shares. The firm says its increased target reflects “numerous bullish events” since the company reported Q3 results on November 6, including the fact that investor participation has broadened; the stock joined the Nasdaq 100 index on November 18; the company announced a transition to an all-unsecured debt capital structure on November 19; and S&P upgraded AppLovin to investment grade on November 7.