Reddit price target raised to $67 from $61 at Roth MKM

Roth MKM analyst Rohit Kulkarni raised the firm’s price target on Reddit to $67 from $61 and keeps a Buy rating on the shares ahead of its Q2 results on August 6th. The firm is raising its estimates to include contribution from the recently announced OpenAI deal but also warns that shares could come under pressure as IPO lockups expire on August 9th, the analyst tells investors in a research note.