Goldman Sachs Starts Twitter (TWTR) at Buy, $46 Target

December 2, 2013 6:49 AM EST
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Price: $16.58 -1.25%

Rating Summary:
    7 Buy, 36 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs initiates coverage on Twitter, Inc. (NYSE: TWTR) with a Buy rating and $46 price target, suggesting 11% upside, citing compelling user growth and monetization opportunities.

"We launch coverage of Twitter with a Buy rating relative to our Neutral coverage view as we believe there is substantial long-term value in Twitter's potential to become the leading platform for real time mass communication," analyst Heath Terry states. "As Twitter grows users, engagement, and monetization through product enhancements, geographic expansion, and advertiser adoption, we see opportunity for growth acceleration and positive estimate revisions. While its growth trajectory is unlikely to be linear, we believe these revisions will, over time, justify considerable upside."

The firm set FY 2013 EPS and revenue estimates at ($3.37) and $623.2, FY 2014 at ($0.71) and $980.3 million and FY 2015 at ($0.72) and $1.291.4 billion.

For an analyst ratings summary and ratings history on Twitter, Inc. click here. For more ratings news on Twitter, Inc. click here.

Shares of Twitter, Inc. closed at $41.57 yesterday.

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