Snap price target lowered to $9 from $13.50 at Citi

Citi analyst Ronald Josey lowered the firm’s price target on Snap (SNAP) to $9 from $13.50 and keeps a Neutral rating on the shares. To reflect 145% tariffs on China and 10% baseline tariffs on other countries, weakening consumer sentiment, and more limited macro visibility, Citi reduced projections and price targets across its online advertising and e-commerce coverage. Citi economists continue to expect a “significant slowdown” in growth and rise in inflation despite the 90-day pause on reciprocal tariffs, which is likely to impact e-commerce and online advertising budgets, the analyst tells investors in a research note. Meta Platforms (META) remains Citi’s top pick given the company’s “continued engagement strength, its product super-cycle, and ads innovation across its primarily performance-based advertising business.” Amazon.com (AMZN) as Citi’s second pick in the sector.