Twitter: Wedbush raises target price

(CercleFinance.com) - Wedbush Securities announced on Monday that it is raising its target price for the Twitter share from 37.
5 dollars to 47 dollars a few days before the micro-blogging site releases its quarterly results.

In its research note, the US broker says it forecasts stronger-than-expected growth in the social network's audience over the past quarter, with 194 million active users per month, vs. 190 million previously.

Wedbush expects the California group's audience to be driven by social and political issues in the United States, but also by an increase in the number of users internationally.

Wedbush prefers to maintain a "neutral" rating on the stock however, citing uncertainty surrounding the online advertising market.

Twitter will publish its Q3 results after US trading on Thursday.

The share is down over 1% in the first hour of trading on Monday.


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