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Why Angie's List (ANGI) Stock Is Spiking Today

NEW YORK (TheStreet) -- Shares of Angie's List (ANGI) were jumping 7.01% to $9.62 on heavy trading volume late Friday afternoon following an upgrade at Raymond James.

Earlier today, the firm raised its rating on shares to "outperform" from "market perform" and established a $12 price target.

Raymond James is encouraged by the early execution of the company's new 4.0 technology platform and growth of free subscribers.

The firm believes increasing product differentiation for advertisers vs. non-advertisers should drive...