i´m not sure what means splutter... but here is my guess:
a stuck exhaust valve in closed position makes the bike run flat in high rpm, not splutter... in open position maybe, but only in low rpm...
a faulty ignition could make the hit smoother or harder, but normaly not splutter with less hit and normal low rpm...
a clogged exhaust also makes the power flat at high rpm, once again, not splutter...
a bad top end could do some of the simptoms discribed, but normally is worse in loe rpm...
my bet is a bad spark plug or a dirty filter (or carburator)...