Wunderlich Maintains Buy on Virgin Media (VMED)

Wunderlich is out with its report today on Virgin Media VMED, maintaining Buy. In a note to clients, Wunderlich writes, "We remain constructive on Buy-rated Virgin Media but regard our current FTSE 100 linked $32 price target as a likely intermediate term upper bound relative to targets on the Street in the $40 vicinity. Although weak current economic performance in the U.K. off the government's austerity budget takes the edge off immediate upside, a path toward a sub-5% of GDP deficit by 2013 affords the U.K. sovereign credibility." Shares of VMED closed Monday at $27.41, down 1.79% from Friday's close.