Will This Coverage Initiation Help Twitter (TWTR) Stock Today?

NEW YORK (TheStreet) -- Shares of Twitter  (TWTR) were down 0.85% to $52.46 in pre-market trading Thursday despite Canaccord's  (CF) coverage initiation with a "buy" rating and a $62 price target.

The firm said newer ad products should lead to faster monetization.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TWTR Chart TWTR data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

If you liked this article you might like

Using Twitter to Trade Stocks

Using Twitter to Trade Stocks

Twitter Still Looks Bullish, Small Adjustment to My Risk Suggestion

Twitter Still Looks Bullish, Small Adjustment to My Risk Suggestion

Jim Cramer: Short Footprints Everywhere

Jim Cramer: Short Footprints Everywhere

Here's the New Hot Trade on Wall Street

Here's the New Hot Trade on Wall Street

Twitter Positioned to Trade Higher

Twitter Positioned to Trade Higher