Why Snap Stock Snapped 6% Higher Today

Shares of Snapchat owner Snap (NYSE: SNAP) shot up nearly 6% in early trading Friday and remain up 4.1% as of 11:45 a.m. EST, goosed by positive comments from two of Wall Street's best-known investment banks.

As TheFly.com reports today, first UBS upgraded Snap shares to buy with a $24 price target (up 50% from its previous price target of $16). Then Wells Fargo followed suit with a 25% price target hike of its own -- to $20 a share.

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Source Fool.com