Playboy, Youku: Media Stock Winners
NEW YORK (
) -- Playboy shares are climbing today after Caris analyst David Miller upgraded his outlook on the company, raising his price target to $6.50 from $5.
Miller upgraded the company to above average from average as he believes Playboy founder Hugh Hefner has the necessary funds to take the company private.
>>Playboy Upgraded on Hef's Purchase Power
Hefner, who founded Playboy in 1957,
proposed to acquire the company
at $5.50 a share in July.
Miller believes Hefner is capable of paying $6.50 per share, which would be about a 24% premium over the current trading price of around $5.25. The $6.50 offer would be about a 7% premium over the stock's 52-week high of $6.10.
Playboy shares are up about 1.75% to $5.25 today.
Youku.com
(YOKU)
shares are gaining more than 7.2% today. The China-based online video company
debuted on the New York Stock Exchange on Dec. 8
with an initial public offering price of $12.80.
The stock surged to its 52-week high of $50 on Dec. 10, in its third day of trading on the NYSE.
Today, shares are up about 7.2% to around $34.95.
-- Written by Theresa McCabe in Boston.
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