Likeother analysts, Youssef Squali of Cantor Fitzgerald seesbig things ahead for Twitter, but believes the December surge was unwarranted.
"Twitter remains one of the few key plays on the social internet, but at the current stock price we prefer Facebook and Google," Squali wrote. He lowered his rating on Twitter to "Sell" from "Hold" Wednesday.
The analyst kept a $32 price target.
On Monday Morgan Stanley's Scott Devitt cut the company's rating to "Underweight" from "Equal-Weight," saying that advertisersare more likely to spend their ad dollars on Twitter's larger rivals first. And on Dec. 27 Macquarie Capital's Ben Schachter cut his rating to "Underperform" from "Neutral" due to the major run-up in the stock.
Twitter Inc.'s went public in early November, with an initial public offering price of $26. The stock closed at $61.46 on Tuesday.
A representative for Twitter could not be immediately reached for comment.
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