Here’s Why Wells Fargo Slashed Twitter’s Price Target by 40 Percent

A Twitter logo is seen outside the company headquarters in San Francisco, on Jan. 11, 2021. Stephen Lam/Reuters

Wells Fargo analyst Brian Fitzgerald lowered the firm’s price target on Twitter Inc to $42 from $70 and reiterated an Equal Weight rating on the shares.

The price target implies an upside of 13.57 percent.