Twitter Scores Upgrade To Buy On Advertiser Ties

Shares of Twitter Inc. edged up 1.6% to $35.68 in recent trade Wednesday following an upgrade to buy from hold at Pivotal Research. Analyst Brian Wieser said recent stock weakness - the company's shares as of Tuesday's close are down 45% this year -- has been overdone. Despite constant worries regarding Twitter's user growth - with Instagram last week announcing it surpassed Twitter by monthly active users - Wieser said revenue growth should "allay concerns around user trends," because it highlights the company's "strong and growing" relationships with advertisers. The microblogging site in October said revenue more than doubled to $361.3 million during the third quarter.