Loop Capital lowered the firm’s price target on Snap (SNAP) to $12 from $16 and keeps a Buy rating on the shares. The firm is lowering its assumed sales multiple to 2.5-times from 4-times given the near-term uncertainties and lack of guidance, even though it is “encouraged” by underlying fundamentals that continue to show improvement, the analyst tells investors in a research note.
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Read More on SNAP:
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