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JPMorgan upgrades Twitter, makes it a top pick for 2021

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A banner with the Twitter logo is set on the front of the New York Stock Exchange, Nov. 7, 2013.
Emmanuel Dunand | AFP | Getty Images

(This story is for CNBC Pro subscribers only).

Twitter is set to soar more than 20% in 2021 as the online advertising market rebounds from its sharp decline during the coronavirus pandemic, according to JPMorgan.

The investment firm upgraded the social media stock to overweight from neutral and hiked its price target, saying Twitter was poised for a strong 2021 and making it one of JPMorgan's top picks.

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