Here's why all the sudden the banks love Snapchat — but still hate Twitter
Wow, Wall Street actually likes Snapchat.
A bunch of banks unleashed their feelings — or rather their sophisticated reports — on the company named Snap Inc. on Monday. And it was pretty damn good for the sexting app-turned-digital juggernaut.
For the ratings: Snap now has 12 "buy", 11 "holds" and six "sells," Bloomberg reported. Goldman Sachs, Citi and Jefferies are all cheering buy! "Outperform," shout RBC Capital, Credit Suisse and Cowen.
This all comes after a tough first month for Snap Inc. The stock opened at $24, rose to $29, but fell to below $20 on March 17. Now, it's back up to $24 and Wall Street is putting forth price targets as high as $31. Read more...
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