Jefferies Ups Price Target On Taubman Centers (TCO)

Jefferies & Co. is raising its price target on shares of Taubman Centers TCO to $52 from $48, but is keeping its Hold rating on shares. In a note to clients, Jefferies writes, "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 are down 12 cents to $53.74 in early Thursday trading.