1159 ET - With Google likely to integrate full AI search capabilities over the next six months, Reddit's recent user disruptions could become a more permanent obstacle, Wells Fargo Securities analysts said in a research note. More AI search offerings will likely dent Reddit's search referrals, hurting its logged-out user activity, the analysts said. Such users are critical to logged-in user acquisition and extending the scale of advertiser reach, they said. With the long-term growth potential of Reddit's ad business now in danger, the analysts downgraded the stock to equal weight and cut their price target to $115 from $168. Shares fall 1.9% to $105.97. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
May 20, 2025 11:59 ET (15:59 GMT)
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