Social networking company Snap's (NYSE: SNAP) recent second-quarter earnings release was followed by many upgraded 12-month price targets for the stock from analysts. One revised target stretched as high as $110, translating to nearly 50% upside from where the stock is trading today. Furthermore, many of the price target hikes were featured alongside buy or outperform ratings.
Here's a closer look at why analysts are so bullish on the growth stock -- and what's behind the most optimistic Snap analyst's $110 price target for the stock.
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Source Fool.com