Pivotal Research Upgrades Twitter, Inc. (TWTR) to Hold

Pivotal Research upgraded Twitter, Inc. (NYSE: TWTR) from Sell to Hold with a price target of $34.00.

Analyst Brian Wieser said, "We are upgrading Twitter to Hold while maintaining our $34 price target. Our view on Twitter has always been clear, and our valuation relatively consistent as a result: Twitter is a well-run company and a powerful medium, but one which in its current form is unlikely to appeal to all. And that’s ok: Twitter avoids the commoditization that hurts most digital media in part because the characteristics which make it so niche-y help make it a distinct vehicle for different kinds of marketers. Still, there are limits to the appropriate value investors should pay for a share of the company, and recent highs were most certainly too high. Current levels now appear fair, although we caution that volatility in the stock paired with a focus by many investors (still) on user growth that may never materialize, the stock could yet see further downside. To the extent it does, we would consider those moves as buying opportunities."

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 $33.39 yesterday.

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