UPDATE: Oppenheimer Upgrades Twitter, Inc. (TWTR) to Perform
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(Updated - October 28, 2016 9:44 AM EDT)
Oppenheimer upgraded Twitter, Inc. (NYSE: TWTR) from Underperform to Perform. Analyst Jason Helfstein thinks the stock's valuation properly reflects fundamental outlook.
"While there are many unknowns, such as the long-term impact of live streaming (on engagement, revenue and margins—from higher program and technical costs), product changes to reduce trolling, and the never-ending innovation by competitors, we now see risk/reward equally weighted, as the stock has declined 30% from its recent high ($24.87 vs. NASDAQ Internet index -2.9%). The biggest question to come out of the call was the cost impact of live streaming, which could consume significant corporate resources in 2017, if this becomes a permanent feature of TWTR," said Helfstein.
Shares of Twitter, Inc. closed at $17.40 yesterday.
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