Reported 1 day ago
Bank of America (BofA) has reiterated its Buy rating for Roblox Corporation (NYSE:RBLX), raising its price target from $103 to $133 following the record-breaking launch of Grow a Garden (GAG), which achieved 21.3 million concurrent users. This milestone surpasses Fortnite’s launch and indicates the platform's potential for significant growth, as noted by analyst Omar Dessouky. The report highlights that most investors are long-term Roblox fans, suggesting that the current stock surge is not driven by new speculative investors.
Source: YAHOO