Argus analyst Jim Kelleher raised his price target price on Twitter (TWTR) to $30 from $25, stating that he believes the shares have further to go despite the stock's over 25% run-up since his upgrade in November.

Twitter is restoring growth while seeking to improve, but not stifle, the user experience and Kelleher thinks its continued work on refining and clarifying its policy on toxic content can help restore the company's early mission of serving as a platform for public self-expression, he tells investors.

Kelleher keeps a Buy rating on Twitter shares.