Reddit rises after Deutsche Bank, Raymond James hike PTs

** Shares of social media firm Reddit RDDT rise 1.7% to $229.10 before the bell

** Deutsche Bank raises PT to $235 from $195; Raymond James also ups PT to $250 from $200 on Monday

** New PT represents 4.3% and ~11% upside to stock's last close, respectively

** Deutsche Bank says RDDT sees healthy demand for digital ad verification tools, specifically in the U.S., consistent sequential growth in data licensing rev and incremental dealmaking activity

** RDDT's forecast of 13% rev growth at the midpoint in Q4 from Q3 looks achievable, as peak uptake in seasonal demand is expected to be between high-teens to lower-double-digit growth from last quarter - Deutsche Bank

** Brokerage firm Raymond James says U.S ad rev is expected to show a sequential growth of low-30s; RDDT has seen a two-fold rise in advertisers

** Says machine learning-powered translation of international languages showing promising early results, with "triple-digit" rise in traffic in French, Spanish and Portuguese languages

** 13 of 20 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell" or lower; their median PT is $190

** RDDT has more than tripled since listing in March 2024