JPMorgan analyst Bryan Smilek lowered the firm’s price target on Duolingo to $255 from $275 and keeps an Overweight rating on the shares post the Q2 report. The company is not seeing impact from a potentially softer consumer and says the Max rollout is a potential second half of 2024 catalyst. The firm continues to believe generative artificial intelligence will unlock better efficacy, expand content, drive product innovation and support subscriber growth.
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