Wells Fargo Maintains Overweight on Roblox, Lowers Price Target to $37
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Ken Gawrelski maintains an Overweight rating on Roblox (RBLX) but lowers the price target from $50 to $37.

May 10, 2024 | 3:55 pm
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Wells Fargo maintains an Overweight rating on Roblox but reduces the price target from $50 to $37, indicating a potential downside according to the bank's analysis.
The reduction in price target by a significant financial institution like Wells Fargo, despite maintaining an Overweight rating, suggests a reassessment of Roblox's short-term growth prospects or market conditions. This adjustment is likely to influence investor sentiment negatively in the short term, as the new target implies a lower expected value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100