Analyst Note
| Ali Mogharabi |We have raised our fair value estimate of Twitter to $52 from $44. The firm used its analyst day to detail how it has carved a path to accelerate top-line growth, which will likely create further operating leverage in the long run. Twitter has taken steps to scale its platforms, enhance its app for consumers and advertisers, improve its direct response ad capabilities, and invest in other user monetization options, all of which accelerated product improvements or launches, drove user growth, and attracted advertisers, which increased user monetization.