BofA lowered the firm’s price target on Snap (SNAP) to $9.50 from $10 and keeps a Neutral rating on the shares following a revenue and EBITDA miss in Q2 and a Q3 revenue outlook that “underwhelms expectations.” Following the report, the firm slightly raised its revenue estimate, reflecting better user monetization and Snapchat+ upside, but is also raising its expense estimates and lowering its 2026 EBITDA estimate by 9%.
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