Market Overview

Morgan Stanley Initiates Coverage on Twitter As Analyst Is Optimistic

Share:
Related TWTR
Lotteries Go Online, Part 2: Lottery.com's CEO Talks About Changing The Lottery Industry Without Disrupting It
Sneaker Wars: How Adidas Was Able To Overtake The Jordan Brand

Morgan Stanley analyst Scott Devitt initiated coverage on Twitter (NYSE: TWTR) with an Equal-weight rating.

Devitt commented that Twitter "will continue to benefit from smartphone adoption and visibility in offline media, and forecast Twitter doubling its US user base to nearly 110m users by 2020 (and around 600m globally). While Twitter currently captures less than 1% of US internet time spent, it remains a top 10 digital property." The analyst further noted that if Twitter's Amplify product becomes a "must-buy" product, Morgan Stanley sees further opportunity.

Although Morgan Stanley is optimistic on Twitter, the analyst notes that the current evaluation reflects the impending continued success. Devitt further reminds investors of risks including competition, limited non-US revenue generation, and unproven success of new revenue products.

Twitter closed at $41.57 on Friday.

Latest Ratings for TWTR

DateFirmActionFromTo
Aug 2017JefferiesDowngradesBuyHold
Aug 2017SunTrust Robinson HumphreyInitiates Coverage OnHold
Jul 2017Bank of AmericaMaintainsUnderperform

View More Analyst Ratings for TWTR
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Scott DevittAnalyst Color Price Target Initiation Analyst Ratings

 

Related Articles (TWTR)

View Comments and Join the Discussion!
Loading...
Loading...