Jefferies downgraded Twitter shares to hold from buy Thursday based on the view that there are “better social plays elsewhere.”
“TWTR’s global platform has broad user engagement, but monetization is slipping,” Brent Thill and a team of equity analysts said in a note. “In social we see a clear winner in FB.”
Shares fell more than 1 percent in extended trading. Facebook shares were unchanged.
Source: Tech CNBC
Twitter shares fall after Jefferies downgrades, calling Facebook 'clear winner' in social