Snap price target raised to $14 from $13 at BofA

BofA analyst Justin Post raised the firm’s price target on Snap (SNAP) to $14 from $13 and keeps a Neutral rating on the shares. The firm is “marginally lowering” revenues estimates to reflect lower growth for Snapchat+ offset by slightly higher ad revenues, cutting its 2025 revenue forecast by 1% to $6.1B, but raised EBITDA by 13% to $718M and raised its target given higher margin expectations and sector multiple expansion.