On Thursday, Morgan Stanley (MS) raised its rating for TWTR stock from “Underweight” to “Equal Weight.” MS had cut its rating for Twitter to “Underweight” earlier this year, Seeking Alpha notes.
Investors liked the news, sending TWTR stock more than 3% in Thursday morning trading.
TWTR shares have fallen sharply since their November debut. Slowing user growth and weaker-than-expected quarterly results have sent TWTR stock slumping this year.
In January, TWTR stock was trading around $69 a share. On Wednesday, Twitter closed at $30.66 per share.
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