Wall Street analysts have reflected on the latest developments concerning Elon Musk’s deal to take Twitter (NYSE:) public in a $44 billion deal.

Musk stated this morning that the deal would only move forward if Twitter could prove bots make up less than 5%.

My offer was based upon Twitter’s SEC filings being correct. Twitter CEO, however, refused yesterday to provide proof.

Tesla (NASDAQ:) CEO said yesterday that “you can’t pay the same price for something that is much worse than they claimed.”

In response to Musk, Twitter said “it is committed to completing the transaction on the agreed price and terms as promptly as practicable.”

Many analysts believe that the bot issue is a distraction Musk uses to reduce the price.

Brent Thill, a Jefferies analyst sees Twitter stock dropping to $22 in the event Musk leaves.

“Musk’s intentions to explore a bid below $54.20 are more based on the recent market sell-off,” rather than the percentage of fake accounts on Twitter, Thill said.

Angelo Zino CFRA Analyst, dropped the price target to $44.00 from $54.00 in order to better reflect Musk’s commitment to his $54.20 offer.

The analyst sees a potential for a lower revised offer of “at least 15%-20% as increasingly plausible (perhaps at $44.20 or $42.00 to maintain the 420).”

Daniel Ives, a Wedbush analyst, also shared his views on recent developments.

“Twitter shares will be under pressure this morning again as the chances of a deal ultimately getting done is not looking good now and its likely a 60%+ chance from our view Musk ultimately walks from the deal and pays the breakup fee… If a revised deal does get done by Musk and Twitter, it will likely will be at a much lower price once negotiations take over and the diligence happens around Twitter DAU and algorithms hot button issues,” Ives told clients.

Today, Twitter shares are down by half of a percentage

By Senad Karaahmetovic