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
|Jul 2015||Cowen & Company||Maintains||Market Perform|
|Jun 2015||MKM Partners||Downgrades||Buy||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.