Wunderlich Securities Maintains Hold, $82 PT on Time Warner

Wunderlich Securities reiterates its Hold rating and $82 target price on Time Warner (NYSE: TWX) following last week's results for the fourth quarter.

In addition, Wunderlich Securities notes the following to support its thesis: "i) an updated FiOS/U-verse matrix analysis off results announced last week; and ii) a further gaming out of accelerated over-the-top erosion relative to potential HSD usage-based pricing. We thought that Asian CE approaches to connected TV at CES were quite disjointed and confusing to the consumer, but are still skeptical that higher data pricing off usage-based pricing on a blended basis can fully compensate in the event of accelerated OTT video erosion."

TWX closed at $73.77 a share on Friday.