Truist raised the firm’s price target on Snap to $16 from $12 and keeps a Hold rating on the shares. The company’s stronger than expected Q1 results reflect broad-based improvement across DR and Brand businesses, along with traction with Snapchat+ and good cost management, the analyst tells investors in a research note. The inflection observed in both DR and Brand growth suggest that changes to the ad products are starting to resonate with the growing roster of advertisers, the firm added.
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