Topeka Capital Maintains Buy On Twitter As Ad Monetization Trends Are Positive
In a research report issued Monday, Topeka Capital analyst Victor Anthony maintained a Buy rating on Twitter Inc (NYSE:TWTR) and slightly raised his price target to $63 (from $62).
Anthony noted, “Each quarter’s ad checks on Twitter have been successively better and we are comfortable with our view that TWTR can close the monetization gap with its peer group. We remain positive on the shares, both near-term into 3Q (reports next Monday 10/27) and longer-term, on increasing ad monetization opportunities and improving advertiser demand. PT increases to $63 from $62. The mobile developers conference this Wednesday and the November Analyst Day are additional catalysts for the shares.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 17.6% and a 60.8% success rate. Anthony has a 13.4% average return when recommending TWTR, and is ranked #52 out of 3354 analysts.