Reddit shares are trading higher after Deutsche Bank initiated coverage on the stock with a Buy rating and $50 price target.
Portfolio Pulse from Benzinga Newsdesk
Reddit shares have seen an increase in trading volume and price after Deutsche Bank initiated coverage with a Buy rating and a $50 price target.
April 16, 2024 | 5:38 pm
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Reddit's stock price increased following Deutsche Bank's initiation of coverage with a Buy rating and a $50 price target.
The initiation of coverage by a major bank like Deutsche Bank, especially with a Buy rating and a significant price target, typically leads to increased investor interest and confidence in the stock, driving up its price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100