RBC Capital analyst Brad Erickson raised the firm’s price target on Snap to $16 from $13 and keeps a Sector Perform rating on the shares. The company reported its best quarter in over 2 years, with ad demand proving better-than-expected and the management citing improving measurement tool adoption, a better operating environment, accelerating new small business advertising customers and positive Snapchat+ momentum, the analyst tells investors in a research note.
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