- BTIG raises its Snap (NYSE:SNAP) target from $15 to $20 and maintains a Buy rating.
- Analyst Richard Greenfield says too many investors are ignoring Snap's recovery, which was driven by the overpromising/missed expectation cycle of the first two years after the IPO.
- The analyst sees multiple catalysts, including higher DAUs and a more open approach to third parties.
- SNAP shares are up 3.7% pre-market to $14.05.
- Snap has a Hold average Sell Side rating.