Goldman Sachs says the rest of Wall Street is underestimating Twitter's turnaround (TWTR)
Twitter has been a tear this year — with shares soaring 82% to hit their highest price in over three years — and Goldman Sachs says the gains may not be done yet. The bank on Thursday raised its target price for the social-media stock to $55 from $40 — a full 25% above where shares were trading — saying Twitter is doing better on its turnaround than the rest of Wall Street gives it credit for. “We continue to believe that consensus expectations underestimate Twitter’s ability to 1) drive incremental engagement through new features and information quality initiatives, 2) better monetize engagement as advertisers leverage newer targeting and measurement functionality, and 3) show significant operating expense leverage as incremental revenue flows to the bottom-line,” Heath Terry, the bank’s tech analyst, told clients in a note.
Source:: https://finance.yahoo.com/news/goldman-sachs-says-rest-wall-151900071.html
