Sigh, Wall Street. Sometimes you are too predictable.
The floodgates opened Monday on the first batch of Snapchat stock recommendations from the research divisions of the company's IPO banks. In principle, this research is independent of the firms' banking arms that guided Snap Inc.'s initial public offering earlier this month. Nevertheless, the analysts are predictably bullish on a company that generated millions of dollars in fees for their employers' investment banking divisions.