Twitter Downgraded by Morgan Stanley to “Underweight” (TWTR)
Twitter (NYSE:TWTR) was downgraded by stock analysts at Morgan Stanley to an “underweight” rating in a report issued on Monday, ARN reports. They currently have a $33.00 target price on the stock. Morgan Stanley’s price target would indicate a potential downside of 52.17% from the stock’s previous close.
The analysts wrote, “Twitter currently trades at a premium to peers and is above our bull case, which assumes that brands will strongly embrace Twitter’s Amplify TV tie-in product,” the report said. “However, as the competition for online ad revenue intensifies, we see TV ad budgets as most likely to go to the largest distribution platforms such as YouTube and Facebook first, and then later to smaller platforms including Twitter.”
Shares of Twitter (NYSE:TWTR) opened at 69.00 on Monday. Twitter has a 1-year low of $38.80 and a 1-year high of $74.73. The stock has a 50-day moving average of $51.97 and a 200-day moving average of $50.6. The company’s market cap is $37.584 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Global Equities Research initiated coverage on shares of Twitter in a research note to investors on Monday, December 30th. They set an “equal weight” rating and a $60.00 price target on the stock. Separately, analysts at UBS AG initiated coverage on shares of Twitter in a research note to investors on Sunday, December 29th. They set an “average” rating on the stock. Finally, analysts at Macquarie downgraded shares of Twitter from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, December 27th. They now have a $46.00 price target on the stock. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Twitter presently has an average rating of “Hold” and an average price target of $44.67.
Twitter operates a free digital service site that blends social networking with the ability to post short messages (NYSE:TWTR) limited to 140 characters or less, commonly known by users as Tweets.
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