HSBC Initiates Coverage On Snap with Reduce Rating, Announces Price Target of $7.5
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Mohammed Khallouf has initiated coverage on Snap (NYSE:SNAP) with a Reduce rating and a price target of $7.5.
September 26, 2023 | 8:41 am
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NEGATIVE IMPACT
HSBC has initiated coverage on Snap with a Reduce rating and a price target of $7.5, which could negatively impact the stock's price.
HSBC's Reduce rating indicates that the analyst believes Snap's stock price will decrease in the short term. The price target of $7.5 is also lower than the current trading price, which could lead to a sell-off as investors adjust their expectations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100