BofA lowered the firm’s price target on Duolingo (DUOL) to $370 from $450 and keeps a Neutral rating on the shares ahead of the company reporting Q3 results on November 5. The firm, which forecasts total Q3 revenue of $261.5M, ahead of the Street estimate of $260.6M, and Q3 EBITDA at $72M, in line with the Street, cites the stock’s re-rating for its lowered target.
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