Roblox price target raised to $43 from $41 at Wells Fargo

Wells Fargo raised the firm’s price target on Roblox to $43 from $41 and keeps an Overweight rating on the shares. Wells Fargo is encouraged by traffic data showing continued recovery in engagement post-April and is raising Q2 bookings to the high end of guidance, the analyst tells investors in a research note. The improving trends of Q2 engagement “somewhat” alleviates concerns post-Q1 weakness, the firm says.