Snap price target raised to $13 from $12 at BMO Capital

BMO Capital raised the firm’s price target on Snap (SNAP) to $13 from $12 and keeps an Outperform rating on the shares. Snap shares reacted positively to the Partnership/integration with Perplexity, which will result in Perplexity paying SNAP $400M over one year, the analyst tells investors in a research note. Snap also plans to implement age verification using new tools from Apple and Google, which will remove users under 13, though this could present a risk to 2026 growth, the firm added.