Shares of Twitter Inc. TWTR,
rose 4.5% in pre-trading on Monday after the social media company was modernized at Deutsche Bank, with analyst Lloyd Walmsley expecting growth to improve in the second half of the year and a “convincing bull case” for 2021 from hold and raise its share price target to $ 56 from $ 36. “We believe Twitter is well positioned to take advantage of a major event in 2021, expanding into more effective advertising on the back of the ad server rebuild and a new [mobile app promotion] product and a possible high-margin subscription product, “Walmsley wrote in a note to customers. He said he was unable to take advantage of Twitter shares with poor feedback from an advertising channel, but that has changed.”
has won 7.6%.