Twitter shares have upside to $52: Rosenblatt Securities
Twitter Inc (NYSE: TWTR) shares have upside to $52 that translates to about a 45% increase in the stock price, says Barton Crockett. He’s a Senior Research Analyst at Rosenblatt Securities.
Twitter has a better chance of winning against Elon MuskCopy link to section
Interestingly, he had warned of a possible plunge to $11 a share only last week. But the new information after Twitter sued Elon Musk over the $44 billion takeover deal, he said on Friday, lays the ground work for a potential recovery.
Twitter’s disclosure of very detailed efforts to explain its spam bot calculations to Musk, and Musk’s reluctance to engage, largely ends our skepticism about Twitter, and instead makes us sceptical about Musk.
Crocket now rates the stock at “buy” and expects a round trip back to its year-to-date high. In its filing to the Delaware Court of Chancery, Twitter said unfounded criticism from Elon Musk had a lot to do with the sell-off in TWTR over the past two months.
Activist short-seller Hindenburg is bullish on Twitter sharesCopy link to section
Twitter is expected to report its quarterly results in the final week of July. Ahead of earnings, the stock is trading at a trailing 12-month price-to-earnings multiple of 150. Crocket added:
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Twitter now looks like an unusually appealing near-term opportunity, in a market otherwise hammered by macro concerns.
Hindenburg Research – a New York-based investment firm seems to agree with the constructive view and dubs the lawsuit a “threat” to Musk’s empire. Hindenburg is “long” Twitter, even though it’s broadly known for activist short-selling.
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The American communications company is seeking a four-day trial in mid-September.