Canaccord Boosts PT on Twitter (TWTR) to $18; Affirms 'Hold' Rating
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Canaccord Genuity boosts its price target on Twitter (NYSE: TWTR) from $16 to $18 today while reaffirming its Hold rating.
THe firm commented,
The implied revenue guidance points to a wide range of y/y growth in Q4. Improving user trends and the 2017 target for GAAP profitability are clear positives. However, our modeling suggests this profit target will require a re-acceleration of revenue growth (which we are not yet forecasting), and we will watch for signs of more advertisers embracing these developments.
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