Underwriters begin coverage of Twitter; Goldman says Buy
- With the quiet period over for the Twitter (TWTR) underwriters, a handful of initiations hit the Street:
- "There is substantial long-term value in Twitter's potential to become the leading platform for real time mass communication," says Goldman's Heath Terry, starting the stock at a Buy with $46 price target. "While its growth trajectory is unlikely to be linear, we believe (positive earnings) revisions will, over time, justify considerable upside." Goldman sees FY13 EPS and revenue at -$3.37 and $623.2M, and FY14 at -$0.72 and $1.29B.
- JPMorgan and Morgan Stanley initiate with Holds, while BAML starts Twitter with a Sell and $36 price target.
- Shares are little-changed premarket
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