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Twitter +5% after JPMorgan upgrade

Published 12/18/2017, 07:48 AM
© Reuters.  Twitter +5% after JPMorgan upgrade
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  • JPMorgan (NYSE:JPM) upgrades Twitter (NYSE:TWTR) from Hold to Overweight, raises the price target by $7 to $27, and calls the company one of the “top smid-cap ideas in 2018.”
  • Analyst Doug Anmuth’s predictions for 2018 include improvements in video and live streaming, a 10% DAU growth, an 8% ad revenue growth, and reaching GAAP profitability.
  • Anmuth recognizes that Twitter shares aren’t cheap at 11.8x 2019E EBITDA after rising 30% since Q3 earnings, but believes user and ad traction will create upside to 2018 consensus.
  • Twitter shares are up 5% premarket.
  • Now read: Twitter: The Case Of The Missing Line


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