Twitter up 6% amid video advertising optimism

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SAN FRANCISCO -- Shares of Twitter, on a roller-coaster ride of late, rose 6% in trading after an analyst reported the company is in a strong position to capture video advertising dollars.

Twitter's stock on Thursday surged $3.85, or 6%, to $67.50 following the report from Evercore Partners. The stock price jump follows a run-up and sell-off zigzag in the past week.

'What places Twitter in such strong company is the combination of its immediacy and the support that it is receiving from the traditional TV industry,' said analyst Ken Sena in a note to clients.

Digital video advertising is booming. Spending is estimated to hit $4.15 billion for 2013, according to eMarketer, up 43.5% from 2012. That figure is expected to balloon 39.5% to $5.79 billion in 2014, according to the research firm.

Evercore Partners boosted its stock target on Twitter to $70 from $52.

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