NEW YORK (TheStreet) --Twitter
(TWTR - Get Report) fell 2.1% to $58.02 Thursday after Cowen initiated coverage of the social networker with an "underperform" rating.
Analysts John Blackledge and Thomas Champion started their coverage of Twitter with a price target of $32. The analysts surveyed 50 ad buyers, and found that "high minimum spend" was a chief complaint about Twitter and its advertising. Few of the ad buyers surveyed felt Twitter had the best ROI on ad spending, losing to Facebook
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