UPDATE: Miller Tabak Upgrades Talbots To Neutral

Miller Tabak & Company has published a research report on Talbots (NYSE: TLB) and has upgraded the company from Sell to Neutral.

In the report, Miller Tabak writes, "The stock is now the subject of a tremendous amount of takeover speculation most recently reflecting a 9.9% equity stake taken by Sycamore Partners. The 13-D filing is Sycamore's first investment. The company closed a round of funding for $300 to $400 million and hopes to raise a total of $750 million to $1 billion, according to undisclosed sources in today's WSJ."

Talbots closed yesterday at $3.83.