BofA lowered the firm’s price target on Snap (SNAP) to $13 from $16 and keeps a Neutral rating on the shares. Following a Q2 revenue miss and Q3 revenue outlook that “underwhelms high expectations,” the firm is lowering its 2025 revenue forecast by 2% and EBITDA view by 22%, the analyst tells investors. While stating that underlining fundamentals for the direct response business are “trending in the right direction,” the analyst continues to prefer others in the social sector such as Meta (META) and Pinterest (PINS).
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