Twitter now expects to price its IPO at $23-$25 a share, up from the original price revealed last month of $17-$20 a share, according to a new filing with the SEC.
At the high end of that price range, Twitter would raise as much as $1.75 billion from its IPO and the company would potentially be valued at more than $15 billion.
The higher price comes amid reports that Twitter quickly attracted enough demand to sell all 70 million shares for its IPO in the previous price range. Several analysts have also come out with reports in recent days recommending investors to buy the stock.
Brian Wieser, an analyst with Pivotal Research, has a price target of $29 for the stock while Morningstar analyst Rick Summer argues that Twitter could be hit $50 a share -- twice the current IPO price.
Twitter first revealed plans to go public in September and is expected to go public on the New York Stock Exchange as soon as this Thursday.
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