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Twitter Doesn’t Need Trump to Thrive: Oppenheimer By Investing.com

© Reuters.

By Christiana Sciaudone

Investing.com — Twitter doesn’t need Donald Trump. 

That’s per Oppenheimer analyst Jason Helfstein, who raised the price target on Twitter Inc (NYSE:) to $58 from $55 while maintaining a buy-equivalent rating, according to StreetInsider.

“We are not concerned with usage impact of blocking President Trump,” Helfstein wrote in a note. 

Shares are up about 2%, at around $47.70.

The firm expects fourth quarter monetizable daily active Twitter users up 34%, 5% ahead of the Street consensus, thanks to the U.S. elections and a potential buyback.

Trump was permanently suspended from Twitter “due to the risk of further incitement of violence,” the company said last week, two days after the Jan. 6 rampage on the U.S. Capitol that left a handful of people dead. Trump has been blamed for instigating his romping, fur-hatted and antler-donning supporters in their breaching of the building as lawmakers attempted to certify the election of Joe Biden.

“We believe the company’s reinvigorated focus on revenue products creates ample catalysts for future growth, including a potential subscription offering,” Helfstein said. 

Quarterly sales are expected at above $1 billion for the first time when the company next reports.

Meanwhile, MKM Partners upgraded Twitter to buy from neutral, StreetInsider said.

 

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