Twitter, Inc. shares rose about 1.4% on Friday by mid-day after MKM Partners upgraded the stock to Buy from Neutral with a $40.00 per share price target. Analyst Rob Sanderson was encouraged by the company’s growth in users, which increased by double digits for the fifth straight quarter. Sanderson indicated that the company was “here to stay” and still has “mass market potential” that could be bolstered by monetization gains.
Earlier this week, Morgan Stanley analysts also upgraded Twitter stock from Underweight to Equal Weight and raised their price target to $29.00 per share. Analyst Brian Nowark suggested that the company’s video product continues to perform well in a market where advertisers are constantly seeking higher-quality video impressions. Constructive conversations with advertisers and improved user numbers further bolster the risk/reward case. (See also: Twitter Jumps, Morgan Stanley Upgrades on Ad Sales.)
Twitter shares moved higher following a series of analyst upgrades, but traders will be watching these key levels ahead. …read more