BMO Capital initiated coverage of Roblox with an Outperform rating and $55 price target. The company has a “highly differentiated” platform for independent creators to develop and play various gaming experiences, similar to YouTube for gamers, the analyst tells investors in a research note. The firm says Roblox maintains the youngest user base of any of the major game publishers. Roblox at an inflection point, says BMO, which expects significant operating leverage with bookings growth faster than costs.
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