Citing “growth pains nearing the end” due to product catalysts, analysts at KeyBanc Capital Markets updated Twitter TWTR,
to overweight the sector and set a price target of $ 65. “Our view is that performance is improving, and the combination of a cyclical recovery of ads and new products creates revenue potential to exceed our consensus revenue estimates in 2021 and 2022,” said analysts Justin Patterson and Sergio Sugura. a note customers gave on Wednesday. They anticipate a sustainable 20% increase, plus the annual increase in revenue from Twitter’s core business. “In a more optimistic scenario, we believe that Twitter could reach $ 5.7 billion in revenue by 2022 (about 10% above consensus),” analysts said. Twitter is expected to announce fourth-quarter results after the market closes on February 9th. Twitter shares closed up nearly 3% to $ 48.19 per share on Wednesday.