Guggenheim Upgrades Snap Inc (SNAP) to Buy

Guggenheim analyst Michael Morris upgraded Snap Inc (NYSE: SNAP) from Neutral to Buy with a price target of $22.00.

The analyst comments "We believe SNAP is well positioned to outperform our Internet and Media coverage universe through year end and provide an investor return of nearly 30% over the next 12 months. The combination of strong usage trends, industry-leading access to 18-34 year-old users and platform improvements should drive growth in advertiser demand. We see long-term revenue potential at SNAP as the most under-appreciated in our universe which should support a sustained premium valuation multiple."

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 $17.12 yesterday.

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