Benzinga | Dec 1, 2021 09:12AM EST

Read Why Citi Slashes Twitter's Price Target By 22%

* Citi analyst Jason Bazinet lowered the firm's price target on Twitter Inc (NYSE:TWTR) to $47 from $60, implying a 7% upside, and maintained a Neutral.

* The analyst reduced Twitter's target multiple to align with the company's peer group more closely.

* He believes the stock's current valuation reflects much of the revenue and margin opportunity over the next few years.

* The social media company underwent a management succession leaving the analysts divided over its impact on the company.

* Price Action: TWTR shares traded higher by 2.55% at $45.06 in the premarket session on the last check Wednesday.