Shares of Twitter were lower Monday after Oppenheimer downgraded its rating on the stock to Underperform from Perform. The action follows the stock’s 21% surge Friday on takeover speculation. The firm also set a $17 price target on the shares, citing slowing user growth, poor production implantation, inferior advertising technology and competition. Analysts with Oppenheimer said in a research note today that they believe a media company is the most likely purchaser and would not pay meaningfully more than the valuation implied by their $17 price target.
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