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Takeover for ‘deteriorating’ Twitter unlikely, stock to drop 37%

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Mizuho Securities downgraded Twitter to underperform on Wednesday, citing stretched valuations and saying it’s not clear the social media company will be acquired.

“We are skeptical of these potential business combinations and believe that the stock is overvalued as business fundamentals have deteriorated significantly over the past 12 months,” equity analyst Neil Doshi wrote in a research note. – READ MORE

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