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Fly News Breaks for July 22, 2019
SNAP
Jul 22, 2019 | 16:14 EDT
Rosenblatt analyst Mark Zgutowicz started Snap with a Buy rating and $18 price target. Snap's current average revenue per user levels are well below social media peers, which provides room to "comfortably double" by 2023, Zgutowicz tells investors in a research note. In the near-term, the analyst believes the shares SNAP shares should rise on "modest tailwinds" from new advertising products and video content.