Why Investors Were Loving AppLovin on Tuesday
Mobile game developer AppLovin (NASDAQ: APP) won plenty of affection from the market on Tuesday. The company's shares rose by just under 12% on the day, thanks to a fresh recommendation upgrade from an analyst.
Tuesday morning, Morgan Stanley prognosticator Brian Nowak tagged AppLovin shares with an equalweight (read: neutral) rating. That's a notch up from his previous rating of underweight (sell), although he cut his price target to $60 per share from $68.
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Source Fool.com
