Bernstein raised the firm’s price target on Snap (SNAP) to $12 from $11 and keeps a Market Perform rating on the shares. Snap continues to shift focus on bottom-of-funnel objectives at the expense of brand-spending, the firm notes. If brand spend recovers – perhaps tied to TikTok-related uncertainty – alongside DR traction and continued Snapchat+ growth, there may be a self-help story here for 2025, argues Bernstein.
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