Twitter stock was flying high Monday after a bullish new report made the argument that the microblogging service is "more relevant now than it has ever been."
"While many view Twitter solely as the preferred form of communication for the POTUS, it has become all things media and an irreplaceable part of the global dialogue," Citron Research analyst Andrew Left wrote in a note Monday. "This past week, Elon Musk announced the potential for the largest LBO ever on Twitter, and while people were debating the quality of the financing, no one was debating the medium of the news - Twitter. No press release or Wall St. Journal article, just Twitter."
"While TWTR is commonly bucketed with FB and SNAP, Citron believes TWTR actually sits alone, with no direct competitor in the exchange of thoughts," Left wrote.
The note, and a growing sentiment that video-related content has sparked an uptick in advertising, propelled shares of Twitter (TWTR) up more than 4%. Early in the afternoon, Twitter stock was up about 2.5% on the day, to $32.83 a share.
Left - who compared the upside of Twitter to Toutiao, a Beijing-based news and information platform that is the second-largest private company in the world - has a target price of $52 within a year for Twitter.
"It's a part of our fabric," Left told Barron's. "Twitter has become the global text message."
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