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Twitter Increases IPO Price Target

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Ahead of its initial public offering, Twitter has raised its IPO price target range. The new price target range is from $23 to $25 a share. The previous range was from $17 to $20 a share. Obviously, Twitter is feeling optimistic ahead of the Thursday debut.  The new price target would raise about $1.75 billion and increase market cap slightly over 13 billion. Morningstar already believes that shares would be trading around $26 per share range. I guess the frenzy has just begun.