Wells Fargo Maintains Overweight on Snap, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Ken Gawrelski maintains an Overweight rating on Snap Inc. (SNAP) but lowers the price target from $22 to $16.

February 07, 2024 | 3:50 pm
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Wells Fargo maintains an Overweight rating on Snap Inc. but lowers the price target from $22 to $16.
The reduction in the price target by a significant financial institution like Wells Fargo, despite maintaining an Overweight rating, could lead to short-term negative sentiment among investors. This adjustment reflects a revised valuation perspective, potentially due to market conditions or company performance, which might cause a decrease in stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100