Morgan Stanley Maintains Underweight on Snap, Raises Price Target to $7
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Brian Nowak maintains an Underweight rating on Snap (NYSE:SNAP) and raises the price target from $6.5 to $7.

October 25, 2023 | 12:53 pm
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Morgan Stanley maintains an Underweight rating on Snap and raises the price target from $6.5 to $7.
While the price target for Snap has been raised from $6.5 to $7, Morgan Stanley maintains an Underweight rating on the stock. This suggests that the analyst believes the stock is overvalued at current prices, which could put downward pressure on the stock in the short term. However, the increase in price target indicates a slightly more positive outlook for the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100