Twitter Downgraded To Sell From Neutral At UBS
UBS analyst Eric Sheridan downgraded Twitter (TWTR) to Sell following the company's Q4 results.
The analyst cut his price target for the shares to $12 from $18. In a research note titled "Can't Fly With Broken Wings," Sheridan said he sees Twitter as struggling to increase a mix of user time and mainstream adoption. Amid "hyper-competition" from Google (GOOGL, GOOG), Facebook (FB) and Instagram, among others, Twitter needs to re-position its advertising business around a smaller cohort of products, Sheridan tells investors.
Loop Capital this morning also downgraded Twitter to Sell.
Disclosure: None.
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