UPDATE: Cantor Fitzgerald Downgrades Twitter on Excessive Valuation

In a report published Wednesday, Cantor Fitzgerald analyst Kip Paulson downgraded Twitter (NYSE: TWTR ) from Hold to Sell, maintaining its $32.00 price target. According to the report, TWTR's valuation is found to be excessive and currently seeing materially more downside than upside, despite the analysts traditional reservation of Sell