Goldman Sachs One of Two Bullish Firms to Initiate Coverage on Twitter Following Quiet Period Expiration
Goldman Sachs analyst Heath Terry initiated coverage on Twitter, Inc. (NYSE: TWTR) with a Buy rating and $46 price target following the quiet period.
Terry commented, "we believe there is substantial long-term value in Twitter's potential to become the leading platform for real time mass communication. As Twitter grows users, engagement, and monetization through product enhancements, geographic expansion, and advertiser adoption, we see opportunity for growth acceleration and positive estimate revisions. While its growth trajectory is unlikely to be linear, we believe these revisions will, over time, justify considerable upside."
Goldman Sachs noted the potential for user growth and engagement to reaccelerate in enhancements from new photo previews, custom timelines, new search filters, alerts and notifications. In addition, Twitter Cards, self-serve, and Amplify should increase revenue growth.
Twitter closed at $41.57 on Friday.
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