Citing “growing pains that are coming to an end” thanks to product catalysts, analysts at KeyBanc Capital Markets updated Twitter TWTR,
overweight from the sector’s weight and set a price target of $ 65. “Our view is that execution is improving, and the combination of a cyclical recovery in ads and new products creates revenue potential to exceed our revenue estimates above consensus in 2021 and 2022, “analysts Justin Patterson and Sergio Sugura said, in a note to customers dated Wednesday. They predict sustainable growth of 20% plus annual revenue from Twitter’s core business. “In a more optimistic scenario, we believe that Twitter could reach $ 5.7 billion in revenue in 2022 (about 10% above consensus),” said analysts. Twitter is expected to announce results for the fourth quarter after the market closed on February 9. Twitter shares closed down nearly 3% to $ 48.19 on Wednesday.
