This morning, Macquarie downgraded shares of Twitter (NYSE:TWTR) from neutral to underperform citing valuation. In the report, Macquarie notes that the fundamentals of the company have not changed, yet the stock has advanced more than 20% in the past week and more than 75% in December. Macquarie maintained its $46 price target in the report. Shares of Twitter were lower on the news, falling more than 4% so far today.
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