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BUZZ-Morgan Stanley cuts Twitter to "underweight", slashes PT by a third

21-Oct-2015 10:45:09

** Twitter TWTR.K cut to "underweight" at Morgan Stanley

** Broker takes knife to PT on stock, slashes it by a third to $24 making it the lowest on the Street, according to StarMine

** MS continues to see limited growth and declining user engagement

** Broker says Twitter could be hitting a ceiling for ad load -- advertising as a pct of total content a user may see. MS estimates that adjusted for time spent Twitter's ad load is already 10x higher than Facebook FB.O

** Still too early to say if co's latest offering -- "Moments" -- will fix user engagement issues, MS says

** Twitter shares off 4.4 pct in light US premarket trading

** As of Tuesday's close, shares had risen more than 25 pct from the post-IPO closing low on Oct 1