Twitter Inc Up 3% On UBS Upgrade

UBS anaylst Eric Sheridan upgraded shares of Twitter Inc TWTR from Neutral to Buy and raised the price target from $50 to $65.

Shares have jumped 2.94 percent in Wednesday's pre-market session.

Sheridan said, based on advertising checks, Twitter is beginning to gain positive momentum on its campaigns. He also noted features, such as promoted video ads and "buy now" button, will help to position the company for future advertising growth.

Based on this sentiment, Sheridan has raised his revenue estimates through 2018.