Why Snap Stock Blasted Higher Again on Thursday

There is a clutch of stocks that convincingly beat the market on both Wednesday and Thursday, but not a great many. Among these high achievers was social media company (NYSE: SNAP), which again posted an exceptional gain on the penultimate day of the trading week. Snap didn't offer any fresh news of its own, but an analyst bolstered the buy case for the stock, helping to send it more than 4% higher on a day when the S 500 index posted a 1.7% increase.

Two days out from Snap's partner summit, in which it unveiled a host of innovations to its offerings, another prognosticator reiterated his positive view of the company.

This was Loop Capital's Alan Gould, who before market open published a take on both the summit and the social media veteran's prospects for the future. He's a Snap bull, as he kept his buy recommendation and $14 per share price target intact.

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Source Fool.com