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Fly News Breaks for January 17, 2020
TWTR
Jan 17, 2020 | 06:00 EDT
UBS analyst Eric Sheridan downgraded Twitter to Neutral from Buy with a price target of $35, down from $37. The shares closed Thursday up 96c to $34.19. The company enters 2020 at a "bit of a crossroads," Sheridan tells investors in a research note. Its investments in 2020 will act as a headwind and "cap" the valuation, contends the analyst. Sheridan continues to hear from industry contacts that 2020 should be a year where Twitter's platform is set to capitalize on large scale global events, like the Olympics, European football championship and U.S. election. However, exiting from its "buggy" summer, Twitter management also is likely to persist with investments around safety, security and ad tech stack, adds Sheridan.
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