Pivotal Research analyst Michael Levine upgraded Snap to Buy from Hold and raised his price target for the shares to $17.25 from $13.25. The stock in afternoon trading is up 68c to $13.62. The analyst sees “increasing signs of momentum in the business on multiple fronts.” Given the “healthy amount of remaining skepticism” about Snap’s business among investors, a turn in usage and revenues could translate into a “meaningful re-rating higher,” Levine tells investors in an intraday research note. He believes Snap’s Android launch at the end of Q1 is doing well and that consensus estimates look too low. Further, the recent launch of lenses is “among some of the most impressive product innovation we have seen in some time from the company,” says Levine. The analyst wants to own the shares, despite the year-to-date rally, ahead of an inflection point in the business.