Twitter (TWTR) PT Raised to $60 at Deutsche Bank

Deutsche Bank maintained a Buy rating on Twitter, Inc. (NYSE: TWTR) and raised its price target to $60.00 (from $52.00).

Analyst Ross Sandler said, "We’ve seen a number of consumer internet stocks inflect up for multiple quarters once the key bear-case argument is invalidated, particularly around user growth (LNKD, Z, etc), and we believe last night may have been that moment for Twitter. Fundamentals measured by improving user adds, engagement and monetization are all trending in the right direction sequentially, and shares are dramatically under-owned vs. the peer set. Even at ~$35B market cap after-hours, Twitter’s opportunity set as the third-largest and fastest growing mobile platform globally (ex-China) is under-appreciated. The revenue and EBITDA run-way from here is much longer than most names in our coverage universe, hence TWTR remains one of our favorite long ideas."

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 $38.59 yesterday.

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