With the 2018 World Cup about to begin, investment bank JP Morgan is getting more bullish on the microblogging site Twitter Inc. (TWTR), suggesting the soccer events should boost traffic to the site.

In a research report covered by Barron’s, JP Morgan analysts also pointed to user growth, innovation on the product front and Twitter’s pricing for advertisements on the platform as reasons to be bullish on the stock. The Wall Street firm set a $50 price target on shares of Twitter, making it the most bullish on the street. MKM Partners held that title with a $43 price target on Twitter before Morgan’s call this week. The median price target for Twitter stands at $31 a share. With the stock trading at $43.82, Morgan expects around 16% upside this year. (See also: Twitter a Buy on Market Potential: MKM Partners.)

“We believe advertising momentum is strengthening, particularly among large marketers,” Morgan analysts wrote in the research report, according to Barron’s. “Industry conversations suggest the value for advertisers on Twitter is increasing, driven by double-digit daily average user growth (6 straight quarters), improving product for both users and marketers (especially video), higher clickthrough rate and ad engagement, and better pricing as cost per engagement continues to decline.”

World Cup Could Drive More Traffic Twitter’s Way

As for the World Cup, which begins play Thursday in Russia, the Morgan analysts said it should drive more traffic to Twitter. After all, sports fans favor Twitter to discuss and follow live sporting events. (See also: Almost Time to Sell Twitter Stock.)

Heading into the World Cup, Twitter has been busy launching new updates to the platform aimed at making it easier for users to follow news and events. Some of that includes a content hub that is being dedicated solely to the World Cup. During a press briefing covered by Variety, Keith Coleman, vice president of product at Twitter, said the aim of the updates it to make it as easy to follow an event as it is to follow people. In a press release, the company said users will be able to keep up with “every shot, save and goal” via its dedicated World Cup page and individual pages for each game including accessing scores, tweets, videos and "Moments."

The bullish call out of Morgan comes as Twitter has landed on the S&P 500 Index, replacing Monsanto in the index after that company was absorbed into Bayer AG in a deal completed June 7. That inclusion lifted shares of the social network operator.

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