Snap Upgraded To Overweight At Morgan Stanley Ahead Of First Investor Day

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As previously reported, Morgan Stanley analyst Brian Nowak upgraded Snap (SNAP) to Overweight from Equal Weight with a price target of $80, up from $50.

His new bottom-up U.S. model for core Snap, Discover, Spotlight, and Maps leads Nowak to see continued engagement, revenue, and EBITDA growth that is faster than expected said the analyst, who adds that he expects more color on the company's monetization plans for all of these products to be shared at the company's first investor day coming up on February 23.

In addition, he notes that his new $80 target only incorporates higher monetization from these products in the U.S, but his $105 bull case target also incorporates higher global monetization.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

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