Loop Capital analyst Rob Sanderson keeps a Buy rating and $14 price target on Snap after attending the company’s partner summit this week. The firm notes that its views remain largely unchanged in that the company appears to be making progress but the recovery and reacceleration in advertising revenue remains choppy. Snap’s strong community growth continues with MAUs up 100M since last year’s event to now 850M, but while the firm believes that Snap has a better chance to lead the massive long-term opportunity for AR glasses than many investors believe, this will play out over several years and will not move the stock anytime soon, the analyst tells investors in a research note.
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