According to a brokerage company, the share price of Twitter Inc could almost double in its first year. The same brokerage firm issued a "buy" rating on the stock even before the social media platform went public, said a Reuters report.
SunTrust Robinson Humphrey analyst Robert Peck had suggested that Twitter would float its share between USD28 to USD30 per piece. The analyst also said that the price for the offering could even reach up to USD50 within a year.
According to Peck's 76-page note, "It is important for investors to look at Twitter beyond just a 140 character text."
Twitter Inc. allows users to post a maximum of 140 character messages called "tweets". Famous celebrities along with politicians make use of the social media platform. Even those who are engaging in business can send out their tweets to promote their establishment.
The planned IPO of Twitter had been one of the most anticipated following Facebook's debut last June 2012.
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