Roblox Stock (RBLX) Surges after JPMorgan Analyst Boosts Price Target
Video game developer Roblox (RBLX) gained about 7% on Wednesday after JPMorgan analyst Cory Carpenter reaffirmed his confidence in the stock. He raised the price target to $125 from $120, while maintaining a Buy rating on RBLX stock.
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This upgrade reflects the analyst’s optimism due to rising user activity and accelerating momentum on the gaming platform.
The analyst highlighted record-breaking engagement levels as a primary driver for the increased price target. Over the weekend, the platform achieved an all-time peak of 32 million concurrent users, and the popular game “Grow A Garden” attracted an impressive 21.5 million users on July 12.
Looking ahead, Carpenter now expects RBLX’s…
