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Snap Inc. (NYSE:SNAP) shares are trading higher Wednesday, while the broader market moves lower. The stock seems to be benefiting from an upgrade from JMP Securities.
The Details: JMP Securities analyst Andrew Boone upgraded Snap from Market Perform to Market Outperform and set a price target of $17.
In a new note, Boone explained that with Snap set to launch Simple Snapchat and Sponsored Snap, the company could see greater user engagement, a higher number of ads displayed and ultimately greater revenue.
The analyst projected that the launch of Sponsored Snaps could …
Full story available on Benzinga.com
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