Morgan Stanley lowered the firm’s price target on Snap (SNAP) to $8 from $8.50 and keeps an Equal Weight rating on the shares. With GenAI “winner and loser” narratives swirling heading into Q3 EPS from the internet group, the firm is focused on revisions and evidence of GPU enabled revenue/return to “trump narratives and drive performance,” says the analyst, who is “most constructive” on Meta (META), DoorDash (DASH), Unity (U) and eBay (EBAY) into Q3 reporting.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNAP:
- Amazon Stock (AMZN) Holds Flat as Cloud Glitch Hits Snapchat, Coinbase, Others
- AWS Outage Knocks Apps Offline: Which Companies Got Hit?
- Mixed options sentiment in Snap Inc. with shares down 0.97%
- Meta Plans AI Controls for Parents Amid EU’s Big Tech Crackdown
- Snap Inc. Faces Mixed Financial Outlook Amid Ad Pricing Challenges and Infrastructure Costs, Holds Steady at $9 Target