Analyst Upgrades: Glu Mobile, Salesforce, and Time Warner

Analysts are weighing in today on gaming issue Glu Mobile Inc. (NASDAQ:GLUU), cloud concern Salesforce.com, inc. (NYSE:CRM), and media magnate Time Warner Inc (NYSE:TWX). Here's a quick roundup of today's bullish brokerage notes on GLUU, CRM, and TWX.

• GLUU is cruising higher ahead of the bell, up 29% after the company reported a surprise first-quarter profit and announced a partnership with Britney Spears. In other news, China-based entertainment firm Tencent has taken a 14.6% stake in Glu Mobile Inc. A number of analysts have responded positively to these developments, with Canaccord Genuity, Craig-Hallum, and Benchmark each raising their price targets on the stock. On the charts, GLUU has done well, adding 38.5% year-to-date to trade at $5.40, helped by yesterday's bounce off its 50-day moving average. There's plenty of sideline cash available to fuel additional gains, as well. Nearly 17% of GLUU's float is sold short, which would take over 12 sessions to repurchase, at the equity's average pace of trading.
  
  
• CRM soared yesterday, spiking to a record high of $78.46 before settling on an 11.6% lead to close at $74.65 -- buoyed by reports the firm is fielding takeover offers. This morning, the shares are off 3.3% ahead of the bell, despite a price-target hike to $83 from $79 at Stifel. There's plenty more optimism throughout the Street, too. In fact, 24 of 29 analysts tracking Salesforce.com, inc. rate it a "buy" or better. Also, during the past 10 days at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity has accumulated a call/put volume ratio of 2.64 -- in the 85th percentile of its annual range.
  
  
• TWX, fresh off yesterday morning's earnings beat, is in the bullish crosshairs ahead of the bell. No fewer than four brokerage firms upped their price targets on the stock -- the most ambitious of which came from Wedbush, which lifted its target to $95 from $91, territory not seen by the equity since June 2001. Technically speaking, Time Warner Inc hasn't done much, sitting a hair above its year-to-date breakeven at $85.45, and spinning its wheels in the $83-$86 range for the past month. Nevertheless, options traders have been betting bullishly on the shares. TWX's 10-day ISE/CBOE/PHLX call/put volume ratio of 19.51 stands above 92% of comparable readings from the past year. In other words, option speculators have picked up calls over puts at a faster rate just 8% of the time over the last 12 months.