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UPDATE: Wedbush Raises PT to $47 on Time Warner Ahead of Earnings

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Wedbush reiterated its Neutral rating on Time Warner (NYSE: TWX) and raised the price target from $44.00 to $47.00.

Wedbush said, "We see relatively little upside at the Networks, given checks indicating that TV scatter market demand was somewhat soft toward the end of the year. … Given the solid but unspectacular U.S. advertising market at present – with ad agency forecasters looking for 1-3% core growth (excluding political and Olympics comparisons) – and the fact that the full weight of upcoming pay TV network carriage renewals will not be felt until 2014, we expect management to be reasonably cautious in its outlook."

Time Warner closed at $50.44 on Monday.

Latest Ratings for TWX

DateFirmActionFromTo
Feb 2016Telsey Advisory GroupInitiates Coverage onOutperform
Jan 2016Albert Fried & Co.Initiates Coverage onOverweight
Jan 2016Drexel HamiltonInitiates Coverage onBuy

View More Analyst Ratings for TWX
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Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

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