Reddit stock fell lower Monday than even the most modest price targets set by investment advisers at big banks and wealth management firms.
It’s now recovering. And despite the fall, Wall Street firms ranging from Deutsche Bank to Piper Sandler and Citizens JMP Securities gave Reddit buy ratings on Monday, anticipating the social media company’s share price will rise as high as $55. Meanwhile, JPMorgan Chase, Morgan Stanley, and Goldman Sachs gave the stock neutral ratings, setting their price targets from $40 to $47.
