Stifel analyst Mark Kelley raised the firm’s price target on Snap to $13 from $8 and keeps a Hold rating on the shares. Ahead of the company’s upcoming earnings report, the firm is “slightly” revising higher its digital advertising growth forecasts for 2023 and 2024, though it is only expecting “slightly better results” for ad-based names relative to the top-line outperformance witnessed in Q1, the analyst tells investors in a group preview note.
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