Here’s Why Twitter Shares Surged at Thursday’s Opening Bell

The Dow Jones Industrial Average and other US stock market indices opened to moderate losses on Thursday. However, shares of social media giant Twitter posted strong gains during pre-market trading on Thursday in response to strong analyst forecasts and consolidated them after the opening bell. Bank of America Gives Twitter Stock Double Upgrade to ‘Buy’ Citing improving metrics among the coveted 18-29 demographic, Bank of America Merrill Lynch gave Twitter shares a double upgrade to “buy” from “underperform.” Analysts set a price target of $39, which is up from their previous mark of $31 and represents a 20.8 percent increase from Wednesday’s close at $32.25. Twitter shares, already in an uptrend, popped at Thursday’s opening bell after analysts turned bullish on the social media firm. “Churn remains elevated, but improving metrics in the 18-29 demographic suggest more younger users are turning to Twitter,” Bank of America analysts stated the Thursday…

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