Snap price target raised to $12 from $9 at Guggenheim

Guggenheim raised the firm’s price target on Snap to $12 from $9 and keeps a Neutral rating on the shares after updating the firm’s model to better reflect its view of 2023 core trends and the company’s cost controls. The firm’s recent advertising industry discussions suggest overall advertising demand stability relative to Q4 trends, with "modest differences" between platforms and verticals, the analyst tells investors.