Twitter's Stock Price Target Cut As Industry Challenges Remain Despite New CEO Hire
October 06, 2015 at 08:15 AM EDT
Twitter Inc.'s stock price target was cut by 23% to $40 by analyst Evan Wilson at Pacific Crest Securities on Tuesday, given concerns over industry challenges, but he kept his rating at overweight because he believes the naming of co-founder Jack Dorsey as its new CEO on Monday could boost investor sentiment over the near term.