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Snap shares bounce back after 8-day decline

And on the ninth day, Snap bounced. After eight straight days of declines that left shares of Snapchat’s parent company down nearly 15 percent, below their $17 initial public offering price, Snap’s stock on Thursday got a boost from a bullish analyst’s report. Shares of the disappearing-photo app maker climbed 3 percent, to $15.69, after Stifel Equity Research’s Scott Devitt gave the stock a price target of $22, implying the company is worth $25.5 billion — $7.2 billion more than it was valued as of Thursday’s close. Snap shares lately have been hammered over concerns about slowing user growth and recent moves by Facebook’s Instagram app to knock off some of its key features. On Tuesday, the stock got crushed after Morg ...