Morgan Stanley Reiterates on Twitter on Mixed Factors

In a report published Thursday, Morgan Stanley analyst Scott Devitt reiterated an Underweight rating on Twitter TWTR, and raised the price target from $33.00 to $36.00. In the report, Morgan Stanley noted, “Twitter beat 4Q consensus revenue estimates, although our concerns regarding engagement continue. WW MAUs were reported at 241m (+4% Q/Q), vs. expectations closer to 250m. Shares appear to price in a high likelihood of long-term success absent evidence of mainstream adoption.” Twitter closed on Wednesday at $65.97.