Market Overview

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

Related TWX
Which Companies Were Winners In This Year's Emmy Awards?
Report: Time Warner May Cut 20% Of Broadcast Workforce
Hectic Week in Tech as Major M&A Breaks Down (Fox Business)

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.

Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

Related Articles (TWX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional