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Fly News Breaks for April 27, 2017
TWTR
Apr 27, 2017 | 07:56 EDT
Citi analyst Mark May says that while Twitter's user metrics improved in Q1, its revenue trends "remain soft." The analyst cut his price target for the shares to $12 from $13 and keeps a Sell rating on the name. It is "unclear how overall engagement is trending and the value of the newly added users," May tells investors in a post-earnings research note. He believes tougher event and user comparisons, as well as heightened competition for digital advertising dollars, could result in continued headwinds for Twitter. The stock closed yesterday up 8%, or $1.16, to $15.82.
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