Roblox price target raised to $79 from $70 at BofA

BofA raised the firm’s price target on Roblox (RBLX) to $79 from $70 and keeps a Buy rating on the shares. After eight quarters of steady 20%-plus year-over-year execution, the firm views management’s confidence in a 20%-plus annual long-term growth trajectory as “credible” and argues that bears looking for a deceleration and de-rating “appear to have lost the argument.” The firm expects investors to continue to shift focus to Roblox’s long-term potential, rather than monthly predictions of Bookings published by third-party data providers, the analyst added in a Q4 preview.