Snap shares are trading lower after HSBC initiated coverage on the stock with a Reduce rating and $7.50 price target.
Portfolio Pulse from Benzinga Newsdesk
HSBC has initiated coverage on Snap with a Reduce rating and a price target of $7.50. This has led to a decrease in Snap's share price.
September 26, 2023 | 6:16 pm
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NEGATIVE IMPACT
Snap's shares are trading lower after HSBC initiated coverage with a Reduce rating and a $7.50 price target.
The Reduce rating and lower price target set by HSBC indicates a negative outlook for Snap's stock. This has led to a decrease in the share price as investors adjust their expectations based on this new information.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100