JMP Securities analyst Andrew Boone upgraded Snap (SNAP) to Outperform from Market Perform with a $17 price target With Snap set to roll out Simple Snapchat and launch Sponsored Snaps, it will see an “inflection in impression growth,” the analyst tells investors in a research note. The firm believes the company can grow U.S. and North American engagement and drive greater advertising load with its new ad products. Additionally, channel checks with larger performance advertisers also are coming back favorably as Snap’s direct response product improvements are gaining traction, adds JMP.
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