Twitter Increases IPO Price Range To $23-$25
Twitter has increased the price of their IPO to $23-$25 per share, which is up from the previous $17-$20 per share range, according to an SEC filing. Twitter would raise as much as $1.75 billion from their IPO at the high end of the price range. Twitter would have a valuation at over $15 billion at this range.
Following the road show, Twitter was able to quickly sell all 70 million shares for their IPO in the previous price range. Pivotal Research analyst Brian Wieser recommended a price target of $29 for the stock. Morningstar analyst Rick Summer said that Twitter could hit $50 per share, which is twice the current IPO price.
Twitter will be going public on the New York Stock Exchange with the symbol TWTR.