UPDATE: Nomura Initiates Coverage on Twitter
In a report published Wednesday, Nomura analyst Anthony DiClemente initiated coverage on Twitter (NYSE: TWTR) with a Neutral rating, establishing a $60.00 price target.
According to the report, TWTR is a direct play on mobile ad growth, given its short-form format. As such, TWTR benefits from the significant secular tailwinds of global device penetration.
“Currently 70% of Twitter usage takes place on mobile, suggesting a clean runway for mobile monetization from here,” the report noted. “In this report, we emphasize three key positives on TWTR fundamentals; however, given a stretched valuation, it is difficult to argue for upside to current levels, and as such, we await a better entry point.”
TWTR closed Tuesday at $58.21.
Latest Ratings for TWTR
|Oct 2015||Morgan Stanley||Maintains||Underweight|
|Oct 2015||Stifel Nicolaus||Upgrades||Hold||Buy|
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