UPDATE: Stifel Nicolaus Raises PT to $52.57 on Time Warner on Healthy Trends
Stifel Nicolaus maintained Time Warner (NYSE: TWX) with a Buy rating and raised the price target from $56.00 to $58.00.
Stifel Nicolaus commented, "[L]ooking ahead we're positive on TWX given its affiliate renewal cycle for Turner networks, healthy sub trends at HBO, favorable growth prospects for international, a decent pipeline of television and film content, and continued redeployment of cash ~ all support our view for an acceleration in core earnings growth over the next few years. At 13.8x forward EPS, we are Buy rated on the shares w/ a $58 target price, which is based on a blended methodology."
Time Warner closed at $52.57 on Friday.
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