A top Wall Street firm is getting more optimistic on Twitter’s prospects.

J.P. Morgan raised its price target to $50 from $39 for the social media company’s shares, citing improving conversations with advertisers.

“We are raising our estimates on TWTR shares as we believe advertising momentum is strengthening, particularly among large marketers,” analyst Doug Anmuth said in a note to clients Tuesday. “Industry conversations suggest the value for advertisers on TWTR is increasing, driven by double-digit DAU [daily average users] growth (6 straight qtrs), improving product for both users & marketers.”

Twitter shares rose 4.8 percent after the report on Tuesday. The new price target is 21 percent higher than Monday’s closing price.

Anmuth reiterated his overweight rating for the company’s stock and said it remained on the firm’s “Analyst Focus List” as one of its top ideas.

The analyst predicts the 2018 FIFA World Cup will benefit the company’s ad sales as a result of its “real-time highlights” video partnership with FOX Sports.

“We believe Twitter is uniquely positioned as the real-time broadcast and communications network, making it complementary to all other forms of media, including TV. Twitter is also well positioned to benefit from the large shift in dollars toward mobile and native,” he said. “We believe Twitter has multiple growth drivers ahead, and we believe the company is well positioned to grow its ad revenue next year as the product continues to improve.”