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TalkTalk: shares up in bearish market with broker upgrade.

( - Shares in British broadband operator TalkTalk are resisting the falling UK market on Thursday after RBC upgraded the stock to "outperform," raising its target price from 185 pence to 225 pence.

The stock is up over 3.3% to 180.3 pence at lunchtime, while the FTSE 250 index is down 1%.

"We believe the combination of the recent share price fall and the outlook for subscribers growth (...) leaves a clear opportunity for investors willing to take a 12-18 month view," RBC said.

In a research note, the Canadian broker added that it believes TalkTalk's subscriber metrics are likely to outperform significantly over the next 12-18 months.

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