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UPDATE: Nomura Initiates Coverage on Twitter

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In a report published Wednesday, Nomura analyst Anthony DiClemente initiated coverage on Twitter (NYSE: TWTR) with a Neutral rating, establishing a $60.00 price target.

According to the report, TWTR is a direct play on mobile ad growth, given its short-form format. As such, TWTR benefits from the significant secular tailwinds of global device penetration.

“Currently 70% of Twitter usage takes place on mobile, suggesting a clean runway for mobile monetization from here,” the report noted. “In this report, we emphasize three key positives on TWTR fundamentals; however, given a stretched valuation, it is difficult to argue for upside to current levels, and as such, we await a better entry point.”

TWTR closed Tuesday at $58.21.

Latest Ratings for TWTR

DateFirmActionFromTo
Mar 2017BarclaysInitiates Coverage OnUnderweight
Feb 2017CitigroupDowngradesNeutralSell
Feb 2017Loop CapitalDowngradesHoldSell

View More Analyst Ratings for TWTR
View the Latest Analyst Ratings

Posted-In: Anthony DiClemente NomuraAnalyst Color Initiation Analyst Ratings

 

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