Barclays Upgrades Snap Inc (SNAP) to Overweight
Get Alerts SNAP Hot Sheet
Price: $11.48 +0.26%
Rating Summary:
24 Buy, 31 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
24 Buy, 31 Hold, 5 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Barclays upgraded Snap Inc (NYSE: SNAP) from Equalweight to Overweight with a price target of $18.00 (from $11.00).
Analyst Ross Sandler sees the company coming to an inflection in 2018. The analyst sees five reasons for clients to begin accumulating shares:
- Company may start achieving or exceeding consensus revenue estimates and accelerate growth in 2018 as price transition enters the later stage,
- Potential narrative change from "Facebook is killing snap chat" to "these companies can co-exist like PCLN/EXPE",
- Elevated short interest relative to peers could create a short squeeze on positive news,
- Tencent's open market purchases could generate a floor at $14 and,
- New ad units (Promoted Stories) could help boost NT upside.
For 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 $13.57 yesterday.
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