Market Pulse Archives

Jan. 28, 2021, 2:38 a.m. EST

Twitter lifted to overweight, price target set at $65: KeyBanc

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Twitter Inc. (TWTR)

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer

TWTR

Citing "growing pains that are nearing an end" thanks to product catalysts, analysts at KeyBanc Capital Markets have upgraded Twitter /zigman2/quotes/203180645/composite TWTR -1.71% to overweight from sector weight and set a $65 price target. "Our view is that execution is improving, and the combination of a cyclical ad recovery and new products creates potential for revenue to outpace our above-consensus revenue estimates in 2021 and 2022," said analysts Justin Patterson and Sergio Sugura, in a note to clients dated Wednesday. They anticipate sustainable 20% plus annual revenue growth from Twitter's core business. "Under a more bullish scenario, we think Twitter could attain 2022 revenue of $5.7 billion (around 10% above consensus)," said the analysts. Twitter is expected to announce fourth quarter results after the market close on Feb. 9. Shares of Twitter closed down nearly 3% at $48.19 a share on Wednesday.

/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 71.92
-1.25 -1.71%
Volume: 18.31M
Feb. 24, 2021 4:03p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$58.40 billion
Rev. per Employee
$675,700
loading...

Get news alerts on Twitter Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.