Truist raised the firm’s price target on Snap (SNAP) to $14 from $13 and keeps a Hold rating on the shares. The company’s Q3 results came in ahead of muted expectations while the Q4 guide was mixed, reflecting good traction in DR and Snapchat+ that was offset by softness in Brand advertising, the analyst tells investors in a research note. Snap’s changes to the ad products are starting to resonate with the growing roster of advertisers, but its execution remains uneven sequentially, Truist added.
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