A U.K. Buy
Positive earnings news from Virgin Media (VMED) on Oct. 29 gave the shares a 7.2% boost, to 15. The British conglomerate reported that average revenue per user reached a record of about $73 in the third quarter. CEO Neil Berkett also said the share of customers who subscribe to all four of the company's services—broadband, TV, telephone, and mobile services—is more than 10%.
A slew of firms, including UBS (UBS) and JPMorgan Chase (JPM), maintained or upped recommendations to buy. Matt Harrigan, a senior analyst at Wunderlich Securities in Denver, raised his price target 37%, to 24, citing the company's progress in attracting higher-end customers. What might put a damper on his rosy outlook? An "uncertain U.K. economy could ultimately hurt demand," says Harrigan.