Twitter's stock bounces toward snapping 6-day losing streak after MKM analyst raises rating, price target [MarketWatch]
Twitter, Inc. (TWTR)
Last twitter, inc. earnings: 4/30 07:00 am
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Source: MarketWatch
Shares of Twitter Inc. bounced 1.8% in afternoon trading Wednesday, putting them on track to snap a six-day losing streak, which would be the longest in three years, after MKM Partners analyst Rohit Kulkarni upgraded the social media company, saying the headwinds that have weighed on the stock recently are likely to reverse this year. The stock has lost 13.7% over the past six days, fueled by the company's permanent suspension of President Trump, a prolific tweeter, citing risk of further incitement of violence in the wake of the violence at the U.S. Capitol last week. But MKM's Kulkarni raised his rating on Twitter to buy from neutral, while lifting his price target to $60 from $47. "As 2021 progresses, we believe Twitter will have the greatest incremental benefit (vs. its social media peers) as brand advertisers accelerate ad spend and live events and product launches resume their normal cadence," Kulkarni wrote in a note to clients. "Aided by easier [year-over-year comparisons] and
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