Piper Sandler raised the firm’s price target on Snap (SNAP) to $12 from $9 and keeps a Neutral rating on the shares. The firm is also raising estimates following a stronger Q3 result although acknowledge that PSC Ad Buyer Survey data was more mixed. But, Snap could wind up taking share from X, formerly Twitter, and perhaps Meta (META). Snap might also see a recovery in M&E next year, Piper adds.
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