BTIG Upgrades Snap Inc (SNAP) to Buy

(Updated - March 14, 2019 7:19 AM EDT)

(updated to expand analyst comments)

BTIG analyst Richard Greenfield upgraded Snap Inc (NYSE: SNAP) from Neutral to Buy with a price target of $15.00.

The analyst cited five reason for the upgrade

1) Performance Advertising Growth - "...We are increasingly confident that overseas direct response/performance advertisers are taking advantage of low relative bid prices on ad inventory in the US."

2) Discover Section Feels Less Seedy - "... we have noticed a meaningful reduction in clickbait/seedy influencer content and an increase in premium/publisher content -- illustrating a change in the underlying algorithm."

3) User Stickiness

4) Our Mushroom Rebuild Testing is Positive

5) New Management/Morale

an analyst ratings summary and ratings history on Snap Inc click here. For more ratings news on Snap Inc click here.

Shares of Snap Inc closed at $10.18 yesterday.

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