Twitter got a rating upgrade from analysts at KeyBanc, on expected long-term revenue growth.
Analysts at KeyBanc boosted their rating on the microblogging company’s shares to overweight (from sector weight), saying they expected long-term revenue growth to be driven by the platform’s improvement in the experience for advertisers and users.
"Our view is that execution is improving, and the combination of a cyclical ad recovery and new products creates potential for revenue to outpace our above-consensus revenue estimates in 2021 and 2022," KeyBanc analysts wrote in a research note.
KeyBank forecasts more than +20% annual growth in Twitter revenue. The analysts affirmed a price target of $65 on Twitter's shares.