Twitter upgraded to Buy from Neutral at Goldman Sachs - InvestingChannel

Twitter upgraded to Buy from Neutral at Goldman Sachs

Goldman Sachs analyst Heath Terry upgraded Twitter to Buy from Neutral with a price target of $35, down from $39. The shares closed Thursday down 33c to $23.02. The 40% share selloff from the highs on February 17 has created an attractive entry point for investors, Terry tells investors in a research note. The acceleration in Twitter users implied by company guidance and third-party data, along with the pre-crisis acceleration in user growth and engagement driven by product investments, leave Twitter well positioned to exit this crisis “stronger than it entered it,” contends the analyst. Terry believes new and returning users see the value of the platform, creating future inventory that Twitter will be able to better monetize as the company invests in its ad technology through the COVID-19 crisis.