UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Time Warner

In a report published Monday, Deutsche Bank reiterated its Buy rating on Time Warner TWX, and raised its price target from $44.00 to $51.00. Deutsche Bank noted, “Reaffirm Buy. TWX remains inexpensive (12x ‘13E P/E) relative to: (1) quality of assets, mgmt and B/S; (2) visibility for cable nets growth (domestic renewal cycle'14-'16, and strong int'l growth; (3) tough Potter comps winding down; (4) lowest cyclicality among peers; and (5) mgmt is returning 126% of FCF.” Time Warner closed on Friday at $43.64.