Snap price target raised to $15 from $12 at Evercore ISI

Evercore ISI analyst Mark Mahaney raised the firm’s price target on Snap (SNAP) to $15 from $12 and keeps an In Line rating on the shares following what the firm describes as “Modest Beat & Mixed Q3 EPS Results.” There’s a lot of product innovation going on right now, but the long-term materiality is not proven, and “Simple could actually make things complicated in terms of near- and medium-term revenue disruption,” the analyst tells investors.