Twitter: shares soar after Deutsche Bank upgrade

(CercleFinance.com) - Shares in Twitter rose on Monday after Deutsche Bank analysts upgraded their rating on the stock to "buy" from "hold".


The Deutsche Bank team said the upgrade partly reflected the social network's user growth, which has benefited from the pandemic.

"We see Twitter's shares continuing to re-rate higher with improving growth in the second half of 2020, a compelling bull case for 2021, and well positioned to benefit from an event and a cyclical recovery," wrote Deutsche Bank.

"In our view, Twitter is well positioned to benefit from a big event landscape in 2021," added the Deutsche team, which raised its price target from 36 dollars to 56 dollars.

Twitter shares were up over 5% in early trading on Monday.

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