Snapchat surges above $20 after receiving its first Wall Street 'buy' rating (SNAP)

Snap Inc, the parent company of messaging company Snapchat is higher by 3.9% at $20.30 per share afterMonness analystJames Cakmak initiated coverage with a "buy" rating, the first for the stock since its March 2 initial public offering.Cakmak has a price target of $25 on Snap's stock. Shares plunged 11% last week towards the IPO price of $17 astraders loaded up on bets against the company. Shares os Snapchat plunged 11% last week, nearing the IPO price of $17, astraders loaded up on bets against...