) -- 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.


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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>>Playboy Releases Full Archive Hard Drive

>>China Stock Battles Destroy Value

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