The Ratings Game: Snap stock extends gains after RBC upgrades that include a Street-high price target

Snap Inc. shares are rising in after-hours trading on Friday after RBC Capital Markets turned bullish on the stock and suggested that the company is near an inflection.

Analyst Mark Mahaney upgraded the stock to outperform from sector perform on Friday afternoon and upped his price target to $17 from $10. With the new target, Mahaney is the most upbeat analyst on Snap’s stock SNAP, +4.96% of the analysts tracked by FactSet.

The stock is up 1% in after-hours trading, building on a gain of nearly 5% from Friday’s regular trading session. Mahaney’s upgrade comes a day after Snap held a partner event and unveiled new features around gaming and third-party integrations.

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