Loop Capital raised the firm’s price target on Snap to $21 from $15 and keeps a Buy rating on the shares. The firm has grown more confident in the turnaround in Snap’s advertising business, increasingly viewing the company as a gen-AI winner, the analyst tells investors in a research note. Loop added that just last week, Snap introduced several new gen-AI features to Snapchat+ member base while disclosing that paid members now exceed 7M, which the firm sees as a “notable acceleration in adoption”.
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