Shares of Snap, parent company of Snapchat, rose on Tuesday following an upgrade from Stifel ahead of the company's earnings release after the bell.
Snap is set to report second-quarter earnings after the bell on Tuesday.
Stifel upgraded Snap to buy from hold and hiked its price target to $17 from $13. The company is trading around $14 a per share. trading close to its $17 debut price from March 2017. After spending most of last year under pressure as users and advertisers left Snapchat's platform, the company is restructuring as it focuses on younger users, stepping up its efforts in augmented reality and improving its advertising business.
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