Stifel analyst David Pang raised the firm’s price target on AppLovin to $43 from $36 and keeps a Buy rating on the shares after AppLovin reported Q2 results that beat the firm’s forecast, consensus, and guidance, and management provided Q3 guidance that was better-than-expected. The firm, which has increased its estimates, sees further upside for the Software Platform business that should enhance free cash flow generation going forward, the analyst tells investors.
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