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Twitter shares jump after Goldman Sachs says account purge good for business, raises price target

Thomas Franck

Goldman Sachs increases its price target on Twitter to $55 from $40 and says the company's efforts to drive and monetize user engagement will help contribute to 25 percent upside. MKM Partners also reiterates its buy rating on the stock and commended its efforts to eradicate "bad actors" on the site. Twitter shares rose Thursday after Goldman Sachs raised its price target for the social media stock and told clients that despite recent worries about the crackdown on fake accounts, the purge will be a net positive for user engagement.