The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, N.Y., on Sept. 28, 2016. (Brendan McDermid/Reuters)
The analyst reduced Twitter’s target multiple to align with the company’s peer group more closely.
He believes the stock’s current valuation reflects much of the revenue and margin opportunity over the next few years.
The social media company underwent a management succession leaving the analysts divided over its impact on the company.
TWTR shares closed 2.53 percent lower at $42.83 on Wednesday.
By Anusuya Lahiri
© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.