- Snap (NYSE:SNAP) is up 3.1% premarket after an upgrade to Overweight at Atlantic Equities, from Neutral.
- That's a move due to valuation, the firm's James Cordwell says.
- He's keeping an above-average price target of $75, implying 39% upside.
- Street analysts are Bullish on the whole, while Seeking Alpha authors are Neutral. The stock has a Quant Rating of Neutral.
- MKM Partners also recently pointed to Snap's valuation after a March decline made the shares look attractive.