Jefferies Ups Target On Taubman Centers (TCO)

Jefferies & Co. is raising its price target on Taubman Centers TCO to $48 from $42, but is keeping its Hold rating on shares. In a note to clients, Jefferies says, "We have a Hold rating on TCO stock given our thesis that, while TCO is well positioned to benefit from a pick-up in leasing activity and stronger negotiation leverage to push rental rates, we believe TCO's stock already reflects this." Shares of TCO gained 49 cents on Friday to close at $50.16, a gain of 1%.