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Deutsche Bank Upgrades Twitter to Buy

October 12, 2020 | technology | No Comments

On Sunday, Deutsche Bank analysts upgraded Twitter from Hold to BUY rating and raised their price target to $56.

Despite a rough start for Twitter early 2020, Twitter has never failed to find a way over the last few years to continue improving monetizable daily active user (mDAU) growth. As a result, the company as has positioned itself for a successful 2021 as they are “well positioned to benefit from an event and a cyclical recovery.” In fact, one thing that analysts continue to be optimistic about is that Twitter can continue its success on a multi-year basis.

Many look to Twitter as their first source of news and entertainment. As more users use the site everyday, the company has a chance to utilize both new and frequent users as a catalyst for higher average revenues per user (ARPU) from “brand spend and new direct response ads.”

According to the

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a man looking at the camera: Rapper Killer Mike. Jim Watson/AFP via Getty Images


© Jim Watson/AFP via Getty Images
Rapper Killer Mike. Jim Watson/AFP via Getty Images

  • A majority Black and Latin-American owned and operated digital bank already has “tens of thousands” of people on its waiting list ahead of its January opening, CNN Business reported. 
  • The new bank, founded by Bounce TV founder Ryan Glover, rapper “Killer Mike,” and former Atlanta Mayor and US Ambassador to the UN Andrew Young, aims to support Black and Latin-American communities, Black-owned businesses, and Black entrepreneurs. 
  • Over the past few months, companies including Square and Netflix have announced support initiatives for Black-owned financial institutions to address racial inequality. 
  • Visit Insider’s homepage for more stories.

A majority Black and Latin-American owned and operated online bank set to open in January already has “tens of thousands” on the waiting list seeking an account, CNN Business reported.

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Greenwood is a digital bank that was founded by Bounce

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  • A majority Black and Latin-American owned and operated digital bank already has “tens of thousands” of people on its waiting list ahead of its January opening, CNN Business reported. 
  • The new bank, founded by Bounce TV founder Ryan Glover, rapper “Killer Mike,” and former Atlanta Mayor and US Ambassador to the UN Andrew Young, aims to support Black and Latin-American communities, Black-owned businesses, and Black entrepreneurs. 
  • Over the past few months, companies including Square and Netflix have announced support initiatives for Black-owned financial institutions to address racial inequality. 
  • Visit Insider’s homepage for more stories.

A majority Black and Latin-American owned and operated online bank set to open in January already has “tens of thousands” on the waiting list seeking an account, CNN Business reported.

Greenwood is a digital bank that was founded by Bounce TV founder Ryan Glover, rapper “Killer Mike,” and former Atlanta Mayor and US Ambassador to the

Read More

HUNTINGTON — City National Bank provided a donation of $8,500 to support programming at Facing Hunger Foodbank during a check presentation on Thursday, Oct. 1.

It is the fourth year the bank has made such a donation. This year’s funding will be directed to county schools in Lawrence County, Ohio, as well as Cabell and Wayne counties in West Virginia.

“City National Bank and their team have become ‘Hunger Heroes’ in their partnership with the food bank since 2016. This year, they wanted to ensure that children in the communities they serve benefit from this gracious gift,” Cynthia Kirkhart, chief executive officer of the food bank, said in a news release. “Through their donations of time, talent and treasure, their support has made a huge impact on the well-being of those we serve.”

Facing Hunger Foodbank has served an additional 11,000 children with emergency back packs throughout the pandemic, and

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  • Stocks just closed out their best third-quarter performance in a decade, but Bank of America expects growth stocks to soon take a back seat to value names.
  • The Russell 1000 Growth Index opened a 36 percentage-point lead over its value-focused peer on Thursday. That’s the biggest outperformance for growth stocks in data going back to 1979, Bank of America said in a note to clients.
  • Still, investors’ heavy concentration in growth sets value up for a bounce-back. The bank recommended high-quality value stocks to ride out election-season volatility and the US economic recovery.
  • Positioning, valuation dispersion, and “an expected recovery in the profits cycle” point to a near-term rally for value, the team of strategists led by Savita Subramanian added.
  • Visit the Business Insider homepage for more stories.

The stock market is hot off of its best third-quarter performance in a decade, and growth names are set

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HUNTINGTON — City National Bank provided a donation of $8,500 to support programming at Facing Hunger Foodbank during a check presentation on Thursday, Oct. 1.

It is the fourth year the bank has made such a donation. This year’s funding will be directed to county schools in Lawrence County, Ohio, as well as Cabell and Wayne counties in West Virginia.

“City National Bank and their team have become ‘Hunger Heroes’ in their partnership with the food bank since 2016. This year, they wanted to ensure that children in the communities they serve benefit from this gracious gift,” Cynthia Kirkhart, chief executive officer of the food bank, said in a news release. “Through their donations of time, talent and treasure, their support has made a huge impact on the well-being of those we serve.”

Facing Hunger Foodbank has served an additional 11,000 children with emergency back packs throughout the pandemic, and

Read More



Getty Images / Cliff Hawkins


© Getty Images / Cliff Hawkins
Getty Images / Cliff Hawkins

  • An influx of retail-investor interest in Penn National Gaming boosted shares too far, too fast, Deutsche Bank said Thursday.
  • The bank’s analysts lifted their price target for Penn National Gaming shares on Thursday to $31 from $22, implying a 57% plunge over the next 12 months.
  • While Penn National’s improvements to operating costs show promise, the stock has transformed “into an internet meme of sorts” without the fundamentals to support its rally, the analysts said.
  • Few states are interested in passing online gambling legislation, and the company’s total addressable market is smaller than bullish investors realize, they added.
  • Watch Penn National trade live here.

Penn National Gaming shares are up more than 800% from their mid-March trough, but Deutsche Bank doesn’t think the rally will hold.

Analysts Carlo Santarelli and Steven Pizzella raised their price target to $31 from

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  • Step is a no-fee digital bank for teenagers, offering secured credit cards and an app.
  • It’s working with influencers like TikTok megastar Charli d’Amelio to spread the word, and banking on referrals between users to grow its platform.
  • Fintechs like Current and Greenlight, too, offer debit cards and savings accounts for kids.
  • Step will also have a brand ambassador called the Step Squad.
  • Visit Business Insider’s homepage for more stories.

 

Banking isn’t typically top of mind for teens, and teens aren’t typically top of mind for banks. But as Gen Z comes of age, fintechs are starting to pay attention to the digitally-savvy segment.

Step, a digital-only bank for teens, just launched, and it’s using influencers like TikTok superstar Charli D’Amelio to spread the word.

D’Amelio, 16, is the most-followed individual on the app, with nearly 90 million followers.

When Step founder and CEO CJ MacDonald first met D’Amelio and

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