Read Why Citi Slashed Twitter’s Price Target by 22 Percent

The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, N.Y., on Sept. 28, 2016. Brendan McDermid/Reuters

Citi analyst Jason Bazinet lowered the firm’s price target on Twitter Inc to $47 from $60, implying a 7 percent upside, and maintained a Neutral.

The analyst reduced Twitter’s target multiple to align with the company’s peer group more closely.