Twitter, Inc. (TWTR) PT Lowered to $62 at Morgan Stanley

Morgan Stanley analyst Brian Nowak lowered the price target on Twitter, Inc. (NYSE: TWTR) to $62.00 (from $68.00) while maintaining a Equalweight rating.

The analyst comments "Lower '22 EBITDA by ~9% given higher investment. Using SNAP/FB as sign posts, we also lower ad revenue estimates by ~2% to take a more conservative approach around a potential future IDFA impact and TWTR's ability to smoothly scale its performance business in a post IDFA world. PT to $62, EW."

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