Twitter shares are selling off over a downgrade due to soft metrics, but some suitors might be looking at it as a customer retention tool, not an advertising business, said TheStreet’s Jim Cramer. Shares of Twitter are down Monday after Oppenheimer lowered its rating to “underperform” from “perform” on the stock following its 21% surge on Friday on takeover speculation. The firm set a $17 price target on shares of the social media company, given slowing user growth, poor production implementation, declining user engagement, inferior advertising technology, platform safety issues and competition. “We believe a media company is the most likely purchaser and would not pay meaningfully more than the valuation implied by our price target,” Oppenheimer stated.
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