UPDATE: MKM Partners Initiates Coverage on Twitter on Expected Upside Drivers

In a report published Wednesday, MKM Partners analyst Rob Sanderson initiated coverage on

with a Buy rating and $50.00 price target. In the report, MKM Partners noted, “We think TWTR will remain an expensive stock so long as growth continues to lead the industry and the opportunity appears open-ended. We expect a new round of analyst opinions next week indicating bullishness for the company but caution on valuation. We also suspect that growth estimates will be lower than the current consensus. We think TWTR is an exceptional growth opportunity and would build positions on the post-IPO fade.” Twitter closed on Tuesday at $40.18.