Snap shares are trading higher after Wells Fargo upgraded the stock from Equal-Weight to Overweight and raised its price target from $8 to $22.
Portfolio Pulse from Benzinga Newsdesk
Snap Inc. shares have risen following an upgrade by Wells Fargo from Equal-Weight to Overweight, with a significant increase in the price target from $8 to $22.

December 11, 2023 | 1:55 pm
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POSITIVE IMPACT
Snap Inc. received a positive analyst rating upgrade from Wells Fargo, changing from Equal-Weight to Overweight, and a substantial price target increase from $8 to $22.
Analyst upgrades typically lead to a positive short-term reaction in the stock market as they suggest a better-than-previously-expected performance and outlook for the company. The substantial increase in the price target from $8 to $22 indicates a strong conviction from Wells Fargo about the potential upside of Snap Inc.'s shares, which can instill confidence in investors and potentially lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100