Snap Stock Surges 7% as Rothschild Redburn Analyst Doubles Price Target to $10
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Snap (SNAP) shares surged over 7% after Rothschild Redburn analyst Joseph Barker upgraded the stock to Buy and doubled the price target to $10, citing a clearer path to profitability. Barker forecasts an 11% CAGR in revenue from FY25-28, driven by ad revenue growth and rising subscriptions. He expects gross margins to rise from 55% in FY25 to 63% in FY28, supported by high-margin products and cost alignment. Despite a Hold consensus rating from analysts, Barker believes Snap's improving fundamentals could enhance investor confidence and re-rate the stock.
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