Twitter shares will keep going higher, even after their stunning rally so far this year, as the company benefits from its platform changes, according to J.P. Morgan.
The firm reiterated its overweight rating for the social media company’s stock, predicting Twitter will generate second-quarter sales above expectations.
“We believe Twitter’s platform continues to strengthen, led by product improvements such as increasing video content, bookmarks, and information quality efforts, along with more compelling returns to advertisers.
We remain positive on the stock heading into 2Q,” analyst Doug Anmuth said in a note to clients Wednesday. “TWTR remains one of our top ideas along w/ FB & AMZN, all of which are on the J.P. Morgan US Equity Analyst Focus List.”
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