Snap price target lowered to $9 from $10 at UBS

UBS lowered the firm’s price target on Snap (SNAP) to $9 from $10 and keeps a Neutral rating on the shares. The Q4 earnings outlook for advertising-driven companies points to slimmer beats after a slow October tied to a government shutdown, followed by a rebound in November and December, the analyst tells investors in a research note. Among nine companies, five exceeded prior forecasts, two were in line, and two came in modestly below expectations, UBS says.