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Fly News Breaks for October 18, 2019
SNAP
Oct 18, 2019 | 06:15 EDT
BofA/Merrill analyst Justin Post upgraded Snap to Buy from Neutral with an $18 price target. The stock has sold off despite "solid" industry and advertising spend channel checks, Post tells investors in a research note. In addition, the analyst says the ongoing Discovery content rollout gives him higher conviction on Snap's ability to expand its average revenue per user. He also believes the possibility of a first positive EBITDA quarter in Q4 could change the stock's narrative.