Analyst Heath Terry at Goldman Sachs on Monday put a buy rating on shares of recently-public social media giant Twitter Inc. ands set a $46 price target for the shares.
""We launch coverage of Twitter with a buy rating...as we believe there is substantial long-term value in Twitter's potential to become the leading platform for real time mass communication," Terry wrote to clients.
Goldman Sachs was the lead underwriter on the Twitter IPO and as such the firm has beewn in a quiet period for the last several weeks.
Terry concluded his note to clients saying, "As Twitter grows users, engagement, and monetization through product enhancements, geographic expansion, and advertiser adoption, we see opportunity for growth acceleration and positive estimate revisions. While its growth trajectory is unlikely to be linear, we believe these revisions will, over time, justify considerable upside."
Twitter Rated A Buy At Goldman, Bank Sees Upside For Shares
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