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Snap stock gains after upgrade at Pivotal
Pivotal Research Group analyst Michael Levine raised his rating on Snap Inc. to buy from hold on Thursday, writing that he doesn't want to miss "the inflection point in the business." Levine argued that Snap's user growth has "prospectively turned the corner" following the broad launch of the company's redesigned Snapchat app. "Less appreciated based on our industry checks, we think the latest launch of lenses is among some of the most impressive product innovation we have seen in some time from the company," he wrote. "If we are right on our top-line and user conclusions, it will be happening on the backdrop of a much more rationalized cost structure." Levine raised his target price on the shares to $17.25 from $13.25. The stock is up 5% in Thursday trading and it's gained 146% so far this year. The S&P 500 has risen 13% in that time.
https://finance.yahoo.com/m/cf89a85...6a1f995/snap-stock-gains-after.html?.tsrc=rss
Pivotal Research Group analyst Michael Levine raised his rating on Snap Inc. to buy from hold on Thursday, writing that he doesn't want to miss "the inflection point in the business." Levine argued that Snap's user growth has "prospectively turned the corner" following the broad launch of the company's redesigned Snapchat app. "Less appreciated based on our industry checks, we think the latest launch of lenses is among some of the most impressive product innovation we have seen in some time from the company," he wrote. "If we are right on our top-line and user conclusions, it will be happening on the backdrop of a much more rationalized cost structure." Levine raised his target price on the shares to $17.25 from $13.25. The stock is up 5% in Thursday trading and it's gained 146% so far this year. The S&P 500 has risen 13% in that time.
https://finance.yahoo.com/m/cf89a85...6a1f995/snap-stock-gains-after.html?.tsrc=rss
