Twitter surges after Morgan Stanley raises from 'underweight' [Business News Network (BNN) Energy & Resources (Canada)]
Twitter, Inc. (TWTR)
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Source: Business News Network
Twitter surges after Morgan Stanley raises from 'underweight' SAN FRANCISCO - Shares of Twitter Inc (TWTR.N) surged nearly 11 per cent on Tuesday and were on track for their best session in two months after Morgan Stanley upgraded its recommendation on the social network to "equal-weight" from "underweight". Investors are likely to continue to pay a premium for Twitter's stock due to expectations of faster revenue growth in 2018 and signs of progress in a company turnaround, Morgan Stanley analyst Brian Nowak wrote in a report. Nowak raised his target price for Twitter by a dollar to US$29. Twitter traded at US$31.69 on the New York Stock Exchange at midday. "Constructive advertiser conversations, improving user growth, and positive revisions make a more compelling risk/reward," Nowak wrote. A surprise return to revenue growth sent Twitter's stock 12 per cent higher after its last quarterly report on Feb. 8 and it is up 32 per cent year to date. The social network is popular with cele
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