Update (4:10 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Twitter (TWTR) rose 2.06% to $61.82, up $1.25 from its previous close of $60.57, at the close of the trading day on Friday after Stifel Nicolaus initiated a "buy" rating on the stock.
The stock had a volume of 26,830,749, slightly above its average of 23,365,700. It hit a high of $64.69 and a low of $61.60 for the day.
Stifel also set a target price of $75 for the social media site.
"Twitter is both revolutionary and disruptive. We believe Twitter is the most powerful, flexible, and disruptive of the social media platforms, giving it significant scarcity value," said Stifel analyst Jordan Rohan in a report. "We believe this value is hard to quantify and does not yet show up in earnings. Over time, we believe the company will harness the power of this strategic position, benefiting consumers and shareholders alike."
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