Raymond James raised the firm’s price target on Reddit (RDDT) to $175 from $150 and keeps a Strong Buy rating on the shares. The firm sees a positive setup for the shares heading into the Q2 report. Reddit’s daily active users can beat consensus estimates and management may offer early commentary on the tailwinds from artificial intelligence search, the analyst tells investors in a research note. Raymond James believes third party data indicates a recovery in May and June for Reddit users.
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