Twitter's Stock Jumps After Analyst Upgrade

Twitter Inc.'s stock jumped 2.8% in premarket trade Monday, after the social-networking company was upgraded at SunTrust Robinson Humphrey, which cited a series of potential positive catalysts and a "washed out" valuation. Analyst Robert Peck said some new monetization efforts Twitter has started, or is about to start, should boost revenue, such as the the Doubleclick partnership, buy button ads, video ads and the launch of the Twitter audience platform. Peck said new initiatives and partnerships, such as Google desktop and mobile search results and Project Lightening, could increase users and engagement. "Twitter's stock has had a wild ride since it's IPO, but we think the recent all time low levels provide a buying opportunity with: sentiment at a low, potential leadership & board stabilization, user & monetization catalysts coming shortly, and an attractive valuation," Peck wrote in a note to clients. The stock has tumbled 27% over the past three months, compared with a 5.6% drop in the S&P 500, but has gained 10% since closing a record low of $24.38 last Tuesday.