At least two analysts have initiated coverage of the messaging service with “buy” ratings. Four others have published research, but have elected against unveiling ratings or price targets until after the company goes public.
Pivotal Research Group analyst Brian Weiser this week slapped a buy rating and $29 price target on Twitter. That implies 45% upside from the top of Twitter’s $17-$20 price range it set last week, which valued the company at up to $11.1 billion.
“Twitter remains much like other early stage/venture-funded/pre-IPO companies (if somewhat bigger and better-funded),” Mr. Weiser says, “and investors are well-advised to assess it as they would other similar companies.”