Twitter Inc. was initiated at neutral at SIG Susquehanna Financial Group of Tuesday. The bank tacked a $32 12-month price target on the stock, which is 8.5% above Monday's closing price. Analyst Shyam Patil attributed the rating to uncertainty surrounding the still unfilled CEO position and the company's ongoing struggles with user growth, which he said creates uncertainty around the future direction of the company and could lead to "advertiser hesitation." Shares of Twitter fell 2% in premarket trade, putting the stock on track to open around $28.90. Its shares are down 21% over the last three months, underperforming the S&P 500, which is flat.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below