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Some Wall Street brokerages push up Twitter IPO targets

02
Nov
2013

By Gerry Shih SAN FRANCISCO (Reuters) – Morningstar on Friday joined three other brokerages in setting price targets for Twitter Inc well above its IPO price range, suggesting the stock has room to rise at least 30 percent. The Wall Street brokerage on Friday set a price target of $26 a share, compared to the initial public offerings $17 to $20 indicative range. Last month, Pivotal Research had set its price target for the social media micro-messaging company at $29 a share, SunTrust at $50 and Topeka Capital at $54. Twitter, which is wrapping up its first week of meetings with prospective investors across the United States, will arrive on the New York Stock Exchange with a fraction of the users and revenue – and hype – that accompanied Facebook Incs much-heralded debut last year.

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