Twitter, Inc. (TWTR) PT Raised to $40 at FBN Securities, 'The Bear Thesis Squashed'

FBN Securities raised its price target on Twitter, Inc. (NYSE: TWTR) to $40.00 (from $23.00) while maintaining a Outperform rating.

Analyst Shebly Seyrafi comments "We are happy to see TWTR post its first GAAP profitable ever as GAAP EPS came in at $.12 (vs. a loss of $.23 in the year ago quarter). The strong results put out by TWTR in FQ4 are consistent with our research which indicates that TWTR turned the corner recently. A key risk to consider is that there could be some nearterm fallout from the recent departure of Anthony Noto to SoFi (private). However, we believe that the company is enjoying strong momentum under leader Jack Dorsey (who is also doing a splendid job with Square [Unrated]), and we expect this momentum to continue."

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