Morgan Stanley Upgrades Twitter On Ad, User Growth

Investing.com - Morgan Stanley (NYSE:MS) has upgraded Twitter and raised its stock-price target on the social media company, saying both user and ad growth will improve.The Wall Street firm changed Twitter from underweight to equal weight and lifted its 12-month target from $28 to $29 a share.Morgan Stanley says Twitter has improved its tools for advertisers allowing them to better target users, while also lowering ad prices. Twitter's user growth is expected to benefit from big events, such as the royal wedding and the midterm elections. The company recently reported its first quarterly profit in February.Shares have doubled in the past 12 months.