Twitter, Inc. (TWTR) PT Raised to $34 at Cowen Following U.S. Ad Buyer Survey

Cowen analyst John Blackledge raised the price target on Twitter, Inc. (NYSE: TWTR) to $34.00 (from $32.00) while maintaining a Market Perform rating following a U.S. ad buyer survey.

The analyst commented, "Key '20 Ad Buyer Survey conclusions: i) Maintain share of total Digital ad budgets in ’20-’21; ii) TWTR ad spend is not expected to be impacted by privacy issues; & iii) ROI lags other Digital players. Our proprietary consumer survey suggests nice y/y uptick in high frequency users (proxy for DAUs) in 4Q19. We updated our model, PT to $34 from $32. Maintain Market Perform."

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