Twitter ticks higher on Macquarie upgrade


"While we remain concerned about user growth trajectory and valuation, we see limited downside given investor focus on strong financial fundamentals and the potential turnaround in user growth," writes Macquarie's Ben Schachter, upgrading Twitter (TWTR +1.2%) to Neutral.

Schachter, who downgraded Twitter on Dec. 27 (shares entered the day at $73), says user growth worries keep him from assigning an Outperform rating. But he considers recent executive changes, including the hiring of Anthony Noto as CFO, to be positives.

Also: MKM has put out a bullish note, arguing Twitter could be worth $120B in 5 years, and that the company's efforts to improve the user experience could fix its churn problems.

Macquarie is the seventh firm to upgrade Twitter since its May lockup expiration (prior upgrades). Q2 results are due on July 29.

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Comments (1)
  • 22643611
    , contributor
    Comments (2099) | Send Message
     
    It's interesting how only the Fly on The Wall also notes that Macquarie
    has a $36 price target. All the other articles that note the upgrade leave that out.

     

    Wonder why
    15 Jul 2014, 10:48 AM Reply Like
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