BofA lowered the firm’s price target on Reddit (RDDT) to $110 from $190 and keeps a Neutral rating on the shares. Recent channel checks conducted in mid-March suggested potential ad spending risk from negative headlines and given the latest tariff announcements, the firm thinks pressure on ad spend will materialize, the analyst tells investors. Overall, the firm is lowering its 2025 online ad spend estimates by about 4%, the analyst added.
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