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Twitter’s slowing growth prompts target price cuts


(Reuters) – Twitter Incs slowing user growth revived concerns among investors about the microblogging services prospects of one day matching Facebook Incs 1.2 billion users. Twitters shares, which have shed about a third of their value since the beginning of the year, were set to open down 12 percent at $37.63 on Wednesday. At least 11 analysts trimmed their target price on the stock after Twitter reported lackluster user and usage growth for the second consecutive quarter. Twitter, in the midst of a transition to boost engagement and attract more users, said its 255 million monthly users appeared to be checking the service less frequently than a year ago.

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