Twitter, Inc. (TWTR) PT Raised to $50 at Argus; Will Join S&P 500
Argus raised its price target on Twitter, Inc. (NYSE: TWTR) to $50.00 (from $40.00) while maintaining a Buy rating. The company will become a component stock in the S&P 500, stepping into the opening created by Bayer's acquisition of Monsanto. Analyst Jim Kelleher believes that Twitter has earned its status as one of the nation's 500 leading companies based on its vital role in the digital arena.
A fter a challenging period dating back to late 2016 in which revenue declined on an annual basis, Twitter in April 2018 announced strong 21% annual top-line growth for 1Q18. Inclusion in the S&P 500 triggers an immediate buying bout, as occurred on 6/5/18, followed by a slighter but not immeasurable trail as a larger group of investors are drawn to a higher profile name.