Jefferies has initiated coverage on Reddit's stock, trading under the ticker $RDDT, with a 'Buy' rating and a price target of $90. Analysts project that the company's EBITDA could more than double over the next two years, reaching approximately $450 million, which is 12% above the consensus for 2026. This growth is expected to be driven by a significant increase in user engagement, supported by AI-driven product enhancements and a robust archive of contextual content. The positive outlook has already led to an increase in Reddit's stock price following the announcement.