Wunderlich Securities Reiterates Hold Rating on Time Warner Cable on Continued CBS Feud

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In a report published Monday, Wunderlich Securities analyst Matthew Harrigan reiterated a Hold rating and $113.00 price target on Time Warner Cable TWC.

In the report, Wunderlich Securities noted, “Time Warner Cable (TWC) and CBS (CBS-NR) continued to sling mud at each other over the weekend, with CBS representing that last Friday TWC denied a request to continue negotiations, with the CBS network and Showtime now blacked out in markets including New York, Los Angeles, and Dallas. TWC is conversely claiming that CBS is delaying negotiations (a long cold spell) until the NFL season starts, maximizing its bargaining power. Continuing the brinkmanship (probably the most misspelled word of the Cold War) theme, a Friday Bloomberg report (denied by Cox CEO Pat Esser over the weekend) affected cable stock trading with suggestions that Liberty Media (LMCA-$147.84, Hold) and Charter (CHTR-NR) had moved on to approaching a deal with privately held Cox Communications in lieu of buying TWC.”

Time Warner Cable closed on Friday at $117.10.

Posted In: Analyst ColorReiterationAnalyst RatingsMatthew HarriganWunderlich Securities
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