Morgan Stanley raised the firm’s price target on Snap (SNAP) to $8.50 from $8 and keeps an Equal Weight rating on the shares. Q3 revenue and the top end of Q4 guidance came in about 1% and 2%, respectively, above the firm’s estimates as strength in Europe and Rest of World offset weakness in North America large advertiser spending, the analyst tells investors. However, user growth going forward now faces new uncertainty with age verification and revenue growth still isn’t outstanding relative to peers, the analyst added in a post-earnings note.
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