Roth MKM analyst Rohit Kulkarni keeps a Neutral rating and $14 price target on Snap (SNAP but notes that the firm has an “incremental positive bias” on the stock heading into Q1 earnings. The company’s upside Q2 EBITDA potential is driven by slowing AI/ML infrastructure spend and recent layoffs, while its North America daily active user metric should rise, the analyst tells investors in a research note. Snap’s improving brand advertising trends, likely Amazon.com (AMZN) partnership contribution, and Snapchat+ traction also offers greater confidence in the near-term revenue outlook for the company, Roth MKM added.
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