Analysts at KeyBanc Capital Markets, the investment bank, upgraded TWTR.US to "overweight" from "underweight" and targeted a share price of $65, saying "the pain of growth is coming to an end" thanks to product catalysts, Zhitong Financial APP has learned.
Analysts at the agency said, "We believe that the company's execution is improving, and the combination of cyclical advertising recovery and new products has created the potential for Twitter's revenue to exceed market expectations in 2021 and 2022." Analysts expect revenue from Twitter's core business to continue to grow by more than 20%. "in a more optimistic scenario, we think Twitter's revenue could reach $5.7 billion in 2022 (about 10 per cent higher than consensus)."