It wasn’t a snap decision.
After two years on the sidelines, BTIG analyst Rich Greenfield upgraded shares of social media company Snap to a buy rating Thursday. The stock surged more than 12 percent on Greenfield’s call that the name can reach $15 based on advertising growth.
Snap has more than doubled in 2019, gaining nearly 105 percent. But the move followed what was a steep slide in the fourth quarter, and the shares are still roughly 38 percent from their 52-week high last March.
The stock has undoubtedly been on a tear, but two market watchers said to be very careful…