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Analysts downgrade Twitter following takeover interest rumors

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Analysts downgrade Twitter following takeover interest rumors

At least two analysts downgraded following suggesting that the company's boardis considering a sale, TheFly.com reported Sept. 28.

Analyst Blake Harper of Loop Capital downgraded the companyto sell from hold, noting that it is improbable that any takeover offer willgive a "meaningful premium" from the current price of company stock.Potential bidders who have shown interest include 's , and Salesforce.com.

Harper suspected that the swiftness with which Twitter putitself for sale could be a sign of another unsatisfactory earnings report inthe making. Harper considered this an indication that there is more downsiderisk involved than upside potential if a deal does materialize.

Meanwhile, Mizuho analyst Neil Doshi downgraded Twitter tounderperform from neutral calling the current stock overvalued and noted thatTwitter's business fundamentals have deteriorated significantly over the pastyear.

Doshi said that investors of both Alphabet and Salesforcewill view a Twitter acquisition negatively.

While Harper believes that the microblogging site willeventually receive a takeover bid, Doshi wrote in the research note that manyacquisition possibilities are unlikely to come to fruition.