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CORRECTED-FACTBOX-Snap IPO underwriters' coverage (July 11)

(Corrects Stifel coverage on stock to "hold" rating and a $22 price target) July 11 (Reuters) - Snap Inc's shares dropped 5.2 percent in early trading on Tuesday, after lead IPO underwriter Morgan Stanley downgraded the stock and slashed its price target. The company's shares closed below their initial public offering price of $17 for the first time on Monday, as investors become increasingly concerned about the Snap's ability to grow amid intense competition from the likes of Facebook Inc. Several of Snap's underwriters handed the stock "buy" ratings in March, although analysts not involved in the IPO had assigned it neutral or negative ratings. Following is a list of Snap's IPO underwriters and their current coverage of the stock.

Firm Rating Price Target Morgan Stanley Equal-weight $16 Goldman Sachs Buy $27 J.P. Morgan Securities Neutral $18 Deutsche Bank Securities Buy $23 Barclays Capital Equal-weight $18 Credit Suisse Outperform $25 BTIG Neutral - Citigroup Global Markets Neutral $20 Cowen and Co Underperform $21 Evercore Group* - - Jefferies Buy $30 JMP Securities Market Perform $28 Oppenheimer & Co Perform $23 RBC Capital Markets Outperform $31 Stifel Financial Corp Hold $22 SunTrust Robinson Humphrey* - - The Williams Capital Group* - - UBS Securities Neutral $19 William Blair & Co Outperform - * Does not cover the stock

Currently, 17 of the 36 brokerages covering the stock have a "hold" rating. Twelve rate it "buy" or higher and seven have a "sell" or lower recommendation. The median price target of $19.50 has fallen about 19 percent in the last three months. Note - Data compiled from latest available research notes and Eikon data.

(Reporting by Narottam Medhora in Bengaluru; Editing by Saumyadeb Chakrabarty)