Twitter (TWTR) PT Reduced to $60 at Topeka Capital
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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."
Shares of Twitter, Inc. closed at $42.62 yesterday.
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