Twitter: Wedbush raises target price
(CercleFinance.com) - While maintaining its "neutral" position on Twitter shares, Wedbush has raised its target price for them from 50 dollars to 54.
2 dollars, bringing it into line with the price that Elon Musk has proposed to buy the microblogging group, the day after his decision to resume his offer made last April.
"We believe the deal should close likely over the next few weeks," the broker said, noting that Twitter's board has yet to formally agree to the buyout and drop its lawsuit.
"We continue to believe Musk saw the writing on the wall and knew his chances of a victory in Delaware were slim to none with the best path accepting the current deal and move forward," Wedbush adds.
Note that the share is down about 2.5% in pre-market trading just before the opening bell.
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