Twitter (TWTR) PT Reduced to $60 at Topeka Capital
- Market Wrap: Adv. Q3 GDP Outpaces; Citi Lowers Q3 Results; Starbucks Percolates in Q3
- Starbucks Coffee (SBUX) Reports In-Line Q4 EPS
- Citigroup (C) Adjusts Q3 Results Lower
- After-Hours Stock Movers 10/30: (MELI) (GPRO) (AXTI) Higher; (AEGR) (TRMB) (TPX) (SBUX) Lower (more...)
- LinkedIn (LNKD) Tops Q3 EPS by 5c; Guides FY14 EPS Above Views
Topeka Capital reiterated a Buy rating on Twitter, Inc. (NYSE: TWTR) and reduced its price target to $60.00 (from $70.00).
Analyst Victor Anthony said, "We reckon that we are witnessing Facebook (FB $58.15:Buy) part two. Instead this time it is faster user growth that investors are seeking rather than faster mobile monetization. Accelerating revenue growth, raised guidance, and a near acceleration of U.S. MAU growth failed to appease investors, who are demanding TWTR show a faster path to achieving mainstream status. We are optimistic that TWTR should reaccelerate growth at some point this year. Our 2015 EBITDA estimate increases by 17%, however our price target reduces to $60 from $70 on a reduction in our target multiple. We are stubbornly sticking with our Buy rating and see improvement in investor returns as user growth strengthens."
Shares of Twitter, Inc. closed at $42.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Credit Suisse Downgrades Kraft Foods Group (KRFT) to Neutral
- Goldman Sachs Upgrades Lowe's (LOW) to Buy
- Facebook (FB) PT Trimmed at BofA/Merrill Lynch; Self-Inflicted Pain Should Yield Long-Term Benefits
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!