Snap price target raised to $15 from $11 at Barclays

Barclays analyst Ross Sandler raised the firm’s price target on Snap to $15 from $11 and keeps an Overweight rating on the shares post the Q2 results. The analyst says Snap is working through its advertising stack overhaul and repositioning the business for more robust growth in 2024. “We’ve witnessed these multi-quarter reboots from SNAP before and have confidence that they will get things buttoned up, but over a longer time period than some investors were hoping for,” the analyst tells investors in a research note.