Market Overview

UPDATE: Sterne Agee Initiates Time Warner at Buy Ahead of Time Spinoff

Share:
Related TWX
Time Warner Commences Public Offering Of Senior Notes
21st Century Fox Is Valued At A Lower Multiple Than Just About Every Media Company
Time Warner prices $800M in debt at 2.95% (Seeking Alpha)

In a report published Thursday, Sterne Agee analyst Vasily Karasyov initiated coverage on Time Warner (NYSE: TWX) with a Buy rating and $73.00 price target.

In the report, Sterne Agee noted, “We are initiating coverage of TWX shares with a Buy rating as we expect the stock to outperform the group. We think the P/E will expand as the spinoff of Time Inc. approaches, driving the stock price to $73, 28% above the current level. The evolution of NWSA's relative P/E multiple since announcing the separation of its publishing assets as well as our sum-of-the-parts analysis both support our thesis.”

Time Warner closed on Wednesday at $56.16.

Latest Ratings for TWX

DateFirmActionFromTo
May 2016Goldman SachsMaintainsBuy
May 2016NomuraMaintainsNeutral
May 2016Pacific CrestDowngradesOverweightSector Perform

View More Analyst Ratings for TWX
View the Latest Analyst Ratings

Posted-In: Sterne Agee Vasily KarasyovAnalyst Color Initiation Analyst Ratings

 

Related Articles (TWX)

View Comments and Join the Discussion!