Twitter (TWTR) PT Reduced to $60 at Topeka Capital

April 30, 2014 9:14 AM EDT
Get Alerts TWTR Hot Sheet
Price: $17.02 -1.33%

Rating Summary:
    7 Buy, 36 Hold, 11 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
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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."

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 $42.62 yesterday.

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