UPDATE: Deutsche Bank Reiterates on Twitter on Positive Outlook

In a report published Wednesday, Deutsche Bank analyst Ross Sandler reiterated a Buy rating on

, but lowered the price target from $65.00 to $52.00. In the report, Deutsche Bank noted, “Twitter reported 4% and 96% upside to consensus revenue and EBITDA, but similar to the reaction to FB's 1Q, fundamentals don't seem to matter in the current environment for high-multiple consumer internet. The company continues to execute near-flawlessly around items in its control like revenue and expenses, but sentiment remains pinned on lackluster MAU growth, despite improvement in sequential net-adds. Like FB's late 2012-early 2013 ‘rough patch' we believe sentiment will eventually shift away from solely MAUs toward revenue and EBITDA growth, but timing is hard to predict (and clearly not right now) and we want to be there given the low institutional. Maintain Buy.” Twitter closed on Tuesday at $42.62.