Twitter Shares Fall as Analysts Cut Ratings
Shares of the social-media giant were falling as analysts revised their 2016 outlook.
Shares of Twitter (TWTR) - Get Report were falling in pre-market trading on Thursday after Evercore cut its rating on the stock to "sell" from "hold." The analysts reduced their price target on shares of the San Francisco-based social network to $17 from $18., citing "more risk than reward" at Twitter, especially as photo-sharing app Snapchat looks well poised to snap up market share. Twitter shares are down about 12% so far on the year. About 17% of Twitter's listed analysts hold Buy ratings, 68% recommend holding the stock, and 15% have sell ratings. The average 12-month price target is $16.42
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