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Fly News Breaks for October 17, 2019
TWTR
Oct 17, 2019 | 16:36 EDT
MKM Partners analyst Rohit Kulkarni assumed coverage of Twitter with a Neutral rating and $44 price target. The company's turnaround is "still in its early innings" as its active user base has stabilized and started to grow again, Kulkarni tells investors in a research note. However, with the shares up 40% year-to-date, the analyst prefers to wait for a better entry. He says tougher upcoming comps and elevated expectations keep him on the sidelines for now. MKM had a Buy rating on Twitter before stopping coverage of the name in 2018.
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