Shares of Twitter Inc (NYSE:TWTR) rose nearly 6% today after an analyst said he disagrees with the notion that the company has to be like Facebook Inc (NASDAQ:FB) in order to be successful. Today was a pretty bullish day for the markets today, however, as Facebook stock rose more than 4%.

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Twitter investors worried about user growth

The one place Twitter Inc (NYSE:TWTR) has gotten in trouble numerous times is in user growth deceleration. The micro-blogging company has returned solid fundamental numbers, but slowing user growth has investors worrying that Twitter will never be seen as a mainstream social network like Facebook Inc (NASDAQ:FB). Many seem to believe that Twitter must move into the mainstream in order to be successful. However, SunTrust Robinson Humphrey analyst Robert Peck doesn’t think that’s the case. He’s only the latest of a string of analysts who have upgraded Twitter over the last week or so.

The Wall Street Journal reports that Peck believes Twitter Inc (NYSE:TWTR)’s current stock price is justifiable because the company keeps reducing the monetization gap between it and Facebook Inc (NASDAQ:FB). He notes that Twitter is doing this even though its user growth is decelerating. The analyst upgraded Twitter from Neutral to Buy but maintained his $45 per share price target for the company.

Twitter battles valuation concerns

Twitter Inc (NYSE:TWTR) stock has corrected by more than 50% since it hit its peak in December. Peck notes that multiples on the company’s shares have contracted, as it trades at around nine times its 2015 revenues. He said although this may at first seem expensive compared to the company’s 67% growth rate, it “trades at a discount to already reduced growth adjusted industry multiples.”

The Wall Street Journal notes that Peck was one of the first to slap a rating on Twitter Inc (NYSE:TWTR). He assigned it a Buy rating and a price target of $50 about a month before the initial public offering. Twitter set its IPO price at $26 a share, and the stock skyrocketed in the first day on the New York Stock Exchange. Peck then downgraded Twitter in December, cutting it to Neutral based on valuation.

Twitter back in favor with Wall Street?

Twitter Inc (NYSE:TWTR) and numerous other momentum stocks have fallen over the last couple of months as they lost steam due to concerns about global economic concerns. The micro-blogging company’s stock declined even further last week after a massive lockup of insider-owned shares expired.

Peck pointed to a number of positives he sees with Twitter Inc (NYSE:TWTR). He said the company’s liquidity is now higher in the wake of the lockup expiration. He said this will enable long-term managers of funds to “accumulate a portfolio position.” He also said he thinks Twitter is one of just a handful of Internet platforms with a “long runway in its core business.”