Snap's stock price spiked to its highest level in more than three months on Thursday morning, hitting a high of $16.69 a share. Currently it's trading up 0.44% at $16.05. The last time the stock price was above $16 was on July 11.
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Snap spikes to its best level in more than 3 months (SNAP)
Snap is still 5.6% below its $17 IPO.
Thursday's advance comes after the social media company received a pair of favorable bank write ups on Wednesday. Credit Suisse raised its price target on the stock to $20 a share and said advertisers were finally warming up to the platform's
Snap is set to report third-quarter earnings on November 15.
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