Twitter (TWTR) PT Reduced to $60 at Topeka Capital
- Market Wrap: Greece Worries Hit Markets; S&P 500 Now Flat on Year; Pending Home Sales Gain in May
- Celgene (CELG), Juno (JUNO) Announce 10-Year Collaboration Agreement
- After-Hours Stock Movers 06/29: (JUNO) (KITE) (AMD) HIGHER; (ETRM) (APOL) (HELI) LOWER (more...)
- Markets Shouldn't Discount Third Scenario in Greece - Deutsche Bank
- UPDATE: S&P Cuts Greece to 'CCC-'; Outlook Remains Negative (GREK) (NBG)
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
- FBR Capital Raises Price Target on Finish Line (FINL) Following 1Q16 EPS Beat
- Piper Jaffray Raises Price Target on Fidelity National Financial (FNF) on Sum-Of-The-Parts Valuation
- Oppenheimer Downgrades SunTrust Banks (STI) to Perform
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!