JPMorgan analyst Doug Anmuth upgraded Twitter (TWTR) to Overweight from Neutral with a price target of $65, up from $52, in conjunction with his 2021 internet outlook. The analyst is bullish on online advertising in 2021 and expects industry growth to reaccelerate. Twitter will show the “biggest rebound given its sharper pandemic-driven ad decline,” Anmuth tells investors in a research note. The company is hosting an analyst day in February which could be a positive catalyst, says the analyst, who also highlights the ongoing activist pressure and management’s buyback plan that will support the shares. Anmuth notes that Twitter trades at a “substantial discount” to Snap (SNAP) and Pinterest (PINS). Twitter is one of his top picks for 2021.