Reddit Stock Target Boosted as Catalysts Approach
Reddit’s stock (NYSE: RDDT) is trading 2.8% higher this pre-market, having fallen 3.6% during yesterday’s regular trading session. This morning has seen a boost in optimism on Wall St, marked by a series of upward revisions to its stock price targets.
Truist has just increased its price target on Reddit to $260 from $225, reiterating a “Buy” rating. Truist’s rationale centers on several near- to mid-term catalysts expected to propel growth. These include anticipated strong Q3 results and optimistic Q4 guidance, suggesting the company is on track to exceed expectations.
The upcoming launch of a unified search and answers product is also seen as a key driver, enhancing user engagement and potentially boosting advertising…
