Twitter's stock jumps after analyst swings to bullish from bearish [MarketWatch]
Twitter, Inc. (TWTR)
Last twitter, inc. earnings: 4/30 07:00 am
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Source: MarketWatch
Twitter's stock jumps after analyst swings to bullish from bearish Shares of Twitter Inc. TWTR, +1.99% shot up 3.6% in premarket trade Thursday, bucking the selloff in the broader market, after Bank of America reportedly swung to bullish from bearish on the social media company. Separately, Twitter was highlighted at J.P. Morgan as one of analyst Doug Anmuth's "best ideas" for 2019. BofA upgraded Twitter to buy from underperform, according to a WSJ report, and announced a $39 stock price target, which is 21% above Wednesday's closing price of $32.25. J.P. Morgan's Anmuth said his checks suggest Twitter's ad products and improving return on investment are "increasingly resonating with marketers," with video showing continued strength as its largest and fastest growing ad format. Anmuth said he also believes Twitter is making "meaningful progress" on identifying malicious and spammy content, and "quality improvements should drive benefits to usage and advertising revenue long-term."
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