Wells Fargo lowered the firm’s price target on Snap (SNAP) to $9 from $11 and keeps an Equal Weight rating on the shares. Beyond obvious questions on advertiser behavior, the firm is closely monitoring commentary on the App redesign progress and monetizable engagement trends. Wells expects weakness in brand spending, but softness in performance spending would create forward estimate risk.
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Read More on SNAP:
- Trump Confirms TikTok Sale Deal Is on Track to Close Before April 5 Deadline
- Snap Inc. call volume above normal and directionally bullish
- Snap price target lowered to $14 from $16 at Citizens JMP
- Trump ‘willing’ to lower tariffs on China to do TikTok deal, Reuters reports
- TikTok framing itself as ‘savior’ of Americans in new ad campaign, NYT reports
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