Goldman Sachs Upgrades Twitter, Inc. (TWTR) to Buy; Down ~40% from Highs

(Updated - April 3, 2020 5:13 AM EDT)

(updating comment)

Goldman Sachs analyst Heath Terry upgraded Twitter, Inc. (NYSE: TWTR) from Neutral to Buy with a price target of $35.00 (from $39.00).

The analyst comments "With Twitter -40% from highs the week of February 17, 2020 vs. the S&P 500 -27% over the same period, we believe the net impact of advertisers retreating, both as brands weigh the value of spending in a crisis and direct response sees conversions declining, while user growth surges globally as people look to stay informed and connected, has created an attractive entry point for investors. We believe as new/returning users see the value of the platform, many will stay as we’ve previously seen in more localized crises, creating future inventory that Twitter will be able to better monetize as the company invests in its ad technology through the crisis."

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 $23.02 yesterday.

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