News Stocks 

Twitter’s stock surges toward 13-month high after UBS boosts rating, price target

“Twitter Inc.’s stock TWTR, +4.48% surged 3.3% in morning trade Friday, putting it on course for a the highest close in about 13 months, after the social media company’s third-quarter results prompted UBS to abandon its bearish stance” writes Reporter Editor for marketwatch.com. Analyst Eric Sheridan raised his rating to neutral, after being at sell since Feb. 9, and lifted his stock price target to $21 from $14.He said he now sees Twitter’s risks as more balanced versus potential reward for investors, after results reported Thursday daily engagement metrics continued to grow at a fast pace.”Going forward, we see Twitter’s sustained engagement performance–clearly the output of improved user interface/experience on video and curation–takes a front/center view for investors as key to a healthy debate over whether such trends will act as a leading indicator for forward…ad revenue trends in the business,” Sheridan wrote in a note to clients. The stock has now run up 24.6% over the past three months, while the S&P 500 SPX, +0.76% has gained 4.0% and the Dow Jones Industrial Average DJIA, +0.12% has climbed 7.4%.
 
Source: marketwatch.com



Share This:

Related posts