Twitter Inc., the social-networking company that has seen its shares soar since debuting on the New York Stock Exchange last month, was downgraded by Macquarie Capital, which said the stock has gone “too far, too fast.”
Ben Schachter, a Macquarie analyst in New York, lowered his rating from neutral to underperform—the equivalent of sell. The shares have jumped 40 percent since Macquarie initiated coverage on Dec. 11, without any improvement in Twitter’s fundamentals, Schachter said in a report.
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