BofA lowered the firm’s price target on Snap (SNAP) to $14 from $16 and keeps a Neutral rating on the shares. The firm expects a “modest beat” in Q1, aided by healthy advertising environment, but views Q2 revenue guidance as “the biggest unknown and the most important driver of post-call stock performance,” the analyst tells investors in a preview note. In that regard, the firm views Meta‘s (META) outlook as “likely resetting Snap bar” and is lowering its Q2 revenue and EBITDA estimates by 2%.
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