Among social media platforms, Snap (SNAP) has been 2020’s best performer – up year-to-date by 27%. COVID-19 has resulted in increased engagement and Snap has been gaining credibility among users for several reasons – confidence in the app’s promoted products and principled stand against misinformation, have both played their part.Last week’s virtual Snap Partner Summit had enough highlights to keep users happy and offered new features, services, and partnerships.Snap unveiled Snap Minis, bite size third party apps which operate in the Snap Chat section. Minis can be used among friends and save the hassle of switching to different apps by completing tasks in Snapchat. The initiative has partners including Coachella, movie ticketing app Atom Tickets and meditation app Headspace.Snap now has a navigation bar for the first time, has added new camera innovations such as the ability to “scan” plants and dogs, and has added Voice Scan, a partnership with SoundHound, that lets users activate a Lens with their voice.Furthermore, the company has just revealed a new partnership with game maker Zynga, which will create multiplayer games exclusively on the Snap platform.There’s a lot to like about the social media app, says Monness analyst Brian White. However, “given the macro environment and concerns around competition,” the 5-star analyst remains on the sidelines for now. Long term, White remains confident in Snap’s ability to execute, but the coming months will be challenging, nonetheless.White added, “The digital ad market enjoys a strong secular trend that has fueled the growth of companies such as Snap, and we expect the shift from traditional advertising to digital advertising to continue; however, all ad spending is sensitive to the vicissitudes of the economy. Although we expect Snap to struggle with a weakening digital ad spending environment in 2020, we look for the shift toward digital advertising, and away from traditional advertising, to eventually accelerate over the next couple of years as the COVID-19 crisis acts as a catalyst for advertisers to more expeditiously move away from traditional venues.”Accordingly, White has a Neutral rating on Snap with no fixed price target in mind. (To watch White’s track record, click here)The Street’s view on Snap presents a strange conundrum. On the one hand, based on 20 Buys, 8 Holds and 1 Sell, the disappearing photo app has a Moderate Buy consensus rating. However, the average price target of $18.59 represents possible downside of nearly 9%. It will be interesting to see whether the analysts downgrade their ratings or upgrade price targets over the coming months. (See SNAP price targets and analyst ratings on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

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First Majestic Silver (AG) has asked Canada’s Mexican ambassador to intervene in an escalating $209 million tax dispute, reports Reuters.“We’ve been trying to get somebody to the table to finally put this behind us,” First Majestic CEO Keith Neumeyer told Reuters. The company owns seven silver mines in Mexico and wants ambassador Graeme Clark to set up a meeting with President Lopez Obrador so the dispute can be resolved.According to Neumeyer, Mexican tax authorities have rejected three settlement offers, leading the Vancouver-based company to commence a trade challenge last month.Meanwhile President Lopez Obrador recently stated that some Canadian miners are behind on their tax payments. He has asked the Canadian government to put pressure on these miners to prevent the matter proceeding to international tribunals.Shares in AG have plunged 25% year-to-date, and analysts have a cautiously optimistic take on the stock’s outlook. Its Moderate Buy Street consensus breaks down into 3 buy ratings vs 5 holds, while the $10 average analyst price target indicates 8% upside potential lies ahead.Speaking for the bulls, HC Wainwright analyst Heiko Ihle reiterated his First Majestic buy rating on June 12 with a $10.50 price target.He made the call after AG announced an agreement to purchase a stream on 50% of payable silver from the Springpole project in Ontario, Canada for $22.5 million in cash and shares from First Mining Gold Corp.Springpole maintains a compelling precious metal resource with long-term production potential and is located in a geopolitically safe jurisdiction, the analyst told investors.“We believe that this acquisition provides First Majestic with a potentially de-risked revenue source, as the company has no ongoing operational obligations, and the transaction may ultimately yield incremental returns in an improving silver market” Ihle wrote.Thanks to this new silver stream he now believes that First Majestic’s exposure to an upward trending silver price will span beyond its currently producing assets in Mexico. (See AG stock analysis on TipRanks).Related News: AT&T Mulls $4 Billion Sale Of Gaming Division- Report American Express Scores China Go-Ahead In Milestone Moment E-Signature Pioneer DocuSign To Join Nasdaq-100 Next Monday More recent articles from Smarter Analyst: * IBM Snaps Up Spanugo Cybersecurity Provider Lifting Shares In Pre-Market * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Honeywell Forms Unmanned Aerial Systems Unit For Drones Market * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment

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Since finally overcoming its outstanding lawsuit with Apple (AAPL) in December, Qualcomm (QCOM) has put itself in a solid position to thrive in light of the 5G revolution. The mobile chip giant expects earnings will increase more than a whopping 50% in 2021 and at a rate of roughly 25% through 2026. Those figures may seem ambitious, but they are definitely attainable as the 5G chip market is expected to grow by a massive 88% over that same time-frame.Indeed, Rosenblatt analyst Kevin Cassidy, who is ranked in top 100 of more than 14,000 experts on TipRanks, is confident that the mainstream adoption of 5G is imminent and will be widespread, affirming that Qualcomm is strategically positioned to take full advantage of the trend for years to come.The 5-star analyst views 5G revolution as an essential driver for QCOM for several reasons, including its rapid adoption, extensive applications, and industry-breaking capabilities.Above all, Cassidy envisions 5G technology being the quintessential growth driver in tech sector for what could be more than a decade. Presently, carrier companies are integrating 5G into their cellular networks across the globe, and the analyst estimates that “Qualcomm’s dollar content per handset [will] increase 25% to 50%” relative to those operating with 4G. Even more promising, though, is the “technology’s ability to connect ‘things-to-things.’” The major differentiator between 5G and all previous networks is its ability to exchange data among all sorts of objects and devices, including cars, traffic lights, factories, and more.Cassidy is confident that the long-term implications of 5G will work heavily in Qualcomm’s favor. Even if the pandemic does bring more economic slowdown, more people and businesses will be relying on 5G technology to communicate from home to be optimally efficient. Widespread adoption of the technology is inevitable, and QCOM will be ready to capitalize.To this end, Cassidy rates QCOM an Overweight along with an annual price target of $105, which implies about 22% upside from current levels. (To watch Cassidy’s track record, click here)TipRanks is not quite as keen on QCOM, but nevertheless exhibits the stock as a Moderate Buy. Out of the 19 analysts offering ratings on Qualcomm, 10 say Buy, 6 suggest Hold, and 3 recommend Sell. With a 12-month average price target of $89.73, the stock suggests a modest upside of 4% (See QCOM stock-price forecast on TipRanks).To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment * Facebook’s WhatsApp Rolls Out Digital Payment Service In Brazil * United Airlines Secures $5 Billion Loan To Shore Up $17 Billion Liquidity Chest

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