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Benzinga
Benzinga
Business
Shanthi Rexaline

3 Reasons Why This Analyst Is Downgrading Snap Stock; Including Concerns About TikTok Competition

SNAP TikTok Wedbush NYSE

Multimedia instant messaging app Snap Inc. (NYSE:SNAP) does not evoke enough confidence to stay bullish on its stock, according to an analyst at Wedbush.

The Snap Analyst: Ygal Arounian downgraded Snap shares from Outperform to Neutral and reduced the price target from $56 to $36.

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