TW Cable doing better in L.A.

At least that's the conclusion of Bear Stearns analyst Spencer Wang, who raised his rating on the stock to Outperform from Peer Perform and sees the price hitting $49-50 by year-end 2008. “Our rating change reflects new proprietary work which suggests that integration of the L.A. systems is now progressing more smoothly (leading to higher 2008 estimates), short term technical catalysts, potential to augment equity returns through leverage and valuation,” he wrote in a note. Roughly translated, that means fewer L.A. customers are complaining about service - a big deal considering that Socal is home to 14 percent of TWC's total subscribers. Time Warner Cable is up 1.5 percent this morning. (Tech Trader)