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.

He believes the stock’s current valuation reflects much of the revenue and margin opportunity over the next few years.

The social media company underwent a management succession leaving the analysts divided over its impact on the company.

Price Action

TWTR shares closed 2.53 percent lower at $42.83 on Wednesday.

By Anusuya Lahiri

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