Advertising works on Twitter; RBC boosts price target

|By:, SA News Editor

"A substantial 40% of Twitter (TWTR) advertisers reported improving ROI over the last six months and 40% have also increased their Twitter spend," says RBC Capital, upping its price target on Buy-rated Twitter to $60 from $33.

59% of respondents plan to increase ad spend with Twitter over the next twelve months, says the team, while only 4% plan to decrease.

Shares +1.2% premarket to $56.