UPDATE: Sterne Agee Upgrades Twitter
Shares of Twitter (NYSE: TWTR) are giving back a portion of Tuesday's 12 percent gains, down 1.8 percent to $44.67, in the face of an upgrade from Sterne Agee.
Analyst Arvind Bhatia raised the rating from Underperform to Neutral and maintained the $43 price target.
The prior Underperform rating was based on three key factors:
- Slowing user growth.
- Declining user engagement.
- Premium valuation.
Now, Bhatia sees “potential for user growth and engagement to improve in the near to medium term.” The analyst added “ad engagement and monetization remain healthy.”
Latest Ratings for TWTR
|Dec 2014||Pivotal Research||Upgrades||Hold||Buy|
|Dec 2014||Evercore ISI||Maintains||Buy|
|Dec 2014||JMP Securities||Initiates Coverage on||Market Outperform|
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