Twitter (TWTR) Moves Closer to a Sale - CNBC
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(Updated - September 23, 2016 9:05 AM EDT)
Twitter (NASDAQ: TWTR) is moving closer to sale, and has received expressions of interest, CNBC's David Faber reports. However, he said no sale is imminent.
Twitter has been in the rumor mill essentially since it went public in 2013 and today's report of a sale comes as fundamentals at the social media company continue to weaken. Overnight, RBC Capital downgraded Twitter, Inc. (NYSE: TWTR) from Sector Perform to Underperform with a price target of $14.00 (from $17.00), saying the value proposition to advertisers could be waning, based on their recent advertiser survey data.
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Create E-mail Alert Related CategoriesHot M&A, Mergers and Acquisitions, Rumors, Trader Talk
Related EntitiesDavid Faber, RBC Capital, Twitter
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