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Analyst starts Snap on sidelines for headwinds

2018-12-07 01:21    Investing

Analyst starts Snap on sidelines for headwinds Stock News

© Reuters. Analyst starts Snap on sidelines for headwinds
  • Guggenheim starts Snap (NYSE:SNAP) at Neutral with a $6 price target.
  • Analyst Michael Morris cites Facebook (NASDAQ:FB) competition, sequential DAU declines in the past two quarters, and the fact that "further monetizing messaging-first platforms is an industry-wide challenge in its early stages."
  • Morris sees Snap's Android redesign as the key to reinvigorated growth but thinks investors have low expectations regarding its success.
  • Snap shares are down 4.3% to $5.94.
  • Now read: Evan Spiegel's Memo Will Not Help Snap


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