Time Warner Cable (NYSE:TWC): Time Warner Cable stated this morning that its business services segment could double over the next 4-5 years. Time Warner Cable added that its data usage has jumped 40 percent year-over-year and that it could “stretch” for the right merger and acquisition opportunity. Wells Fargo has kept a Market Perform rating on Time Warner Cable’s stock.
Sotheby’s (NYSE:BID): Citigroup has upgraded Sotheby’s to Buy from Neutral, saying it sees upside from Sotheby’s evaluation of its capital allocation policies. Citi expects asset divestiture, mergers and acquisitions, and/or strategy shifts to occur, and has said that its analysis indicates that a leveraged buyout at $50-$55 per share would yield a 15-18 percent return. Citi has raised its price target for Sotheby’s shares to $55 from $45.
Celldex (NASDAQ:CLDX): Cantor has increased its price target on Celldex to $39 from $24 based on its positive view of Celldex’s pipeline and its belief that near-term catalysts will cause the stock to rise. The firm has maintained a Buy rating on Celldex shares.
SM Energy (NYSE:SM): Barrington has raised its price target for SM Energy shares to $96 from $77. The firm has also raised its estimates on SM Energy as the firm thinks that SM is an excellent exploration and production company with an evolving portfolio of high grade opportunities. The firm added that SM Energy’s New Ventures program provides a solid foundation for future growth and has kept an Outperform rating on SM Energy’s shares.
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