In a report issued Friday May 16, Wunderlich Securities upgraded its rating of Twitter, Inc. TWTR from Sell to Hold with a new target price of $35.
Analyst Blake T. Harper sees Twitter as a, "victim of blind investors and hype machine" which was "hijacked" by investors pushing the stock up to ridiculous amounts after the IPO where there was no evidence the stock deserved those levels.
Harper sees upside to be limited in the near term especially with monthly average users not growing as much as orginally anticipated. However there is some upside with reported revenues and EPS.
Twitter will open at $32.77 in Friday's trading session.
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