Why Twitter (TWTR) Stock Is Up Today

NEW YORK (TheStreet) -- Twitter  (TWTR) rose Tuesday after Wells Fargo upgraded the social media company to "market perform" from "underperform" and maintained its price target range of $36 to $39.

"We believe shares are trading at a more balanced risk/reward ratio at its current valuation," the firm said in a research note. "Though a premium to its peers, we believe our range is supported by Twitter's strong monetization ramp, new product introductions, and broad advertising interest. While we remain concerned about user growth and engagement, we believe street applications have declined substantially following following two quarters of relatively modest user growth."

The stock was up 2.06% to $35.18 at 11:15 a.m.

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TWTR Price Chart

TWTR Price data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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