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March 12, 2020, 8:28 a.m. EDT

Snap gets an upgrade as analyst says it's better positioned than peers during coronavirus outbreak

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By Emily Bary

Deutsche Bank analyst Lloyd Walmsley upgraded Snap Inc. shares /zigman2/quotes/205087158/composite SNAP -0.10% to buy from hold Thursday, writing that the company is "best positioned among midcap advertising names to both weather the coronavirus storm and in terms of upside to shares in an eventual recovery." He said that Snap's stock has fallen 44% from its January high, compared with a 13% fall for the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.36% over the same span. "We have been impressed with Snap's [daily-active-user] growth turnaround and accelerating revenue growth in 2019, and we had been hoping for a better entry point in terms of both valuation and investor sentiment," Walmsley wrote. "While near-term virus volatility may persist, we highlight Snap as a top mid-cap name to add to the recovery list." Nonetheless, the stock is off 6.6% in premarket trading Thursday.

/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 19.73
-0.02 -0.10%
Volume: 38.33M
June 3, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.52 billion
Rev. per Employee
$409,309
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/zigman2/quotes/210599714/realtime
US : S&P US
3,122.87
+42.05 +1.36%
Volume: 3.16B
June 3, 2020 5:18p
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