Brean Capital analyst Sarah Hindlian lowered her price target on Twitter to $47 from $55 ahead of the company's Q2 results. The new target reflects near-term risks as Twitter transitions engagement measurements, searches for a new CEO and looks to improve the user experience, Hindlian tells investors in a research note titled "Q2’15 Earnings Preview--Heaven, Hell and…Purgatory." She expects Twitter to report Q2 numbers in-line with expectations and reiterate guidance. The company "is still in the early innings of a long game," Hindlian writes. She believes Project Lightning, or live event access via Twitter, is of "key strategic relevance in the marketplace." The analyst keeps a Buy rating on the conversation platform. Shares of Twitter closed yesterday down 55c to $36.08.