In a report published Thursday, Rosenblatt Securities analyst Martin Pyykkonen initiated coverage of Twitter, Inc. TWTR with a Buy rating and $60 price target as the company is now well positioned for a revenue growth and EBITDA margin expansion breakout.
Pyykkonen noted six key points to support his bullish outlook:
Market News and Data brought to you by Benzinga APIs- Advertising monetization growth has exceeded user and usage growth.
- Global sales force is reaching "critical mass" with direct sales in 73 countries.
- Video clips ads should be in demand from large advertisers.
- The frequency of technology innovation and new product rollout is increasing.
- Efforts to reduce complexity for new and low frequency users are effective.
- Twitter is reducing the complexity in reporting metrics for financial measurement.
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