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.”
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