Loop Capital upgraded Reddit to Buy from Hold with an unchanged price target of $75. The shares have retreated almost 20% since July 15 and are now trading at 7.8-times Loop’s 2025 estimated revenue, the analyst tells investors in a research note. With the price target now offering 23% upside potential, the firm upgrades the shares. Loop continues to believe that there is likely upside to the Street’s 2024 and 2025 estimates.
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