UPDATE: Deutsche Bank Upgrades Time Warner Cable on Bottoming Fundamentals, Asset Value
In a report published Monday, Deutsche Bank analyst Doug Mitchelson upgraded the rating on Time Warner Cable (NYSE: TWC) from Hold to Buy, and raised the price target from $109.00 to $141.00.
In the report, Deutsche Bank noted, “We believe TWC's poor fundamentals are bottoming in 3Q13/4Q13, new mgmt will breathe new life into strategy and execution, in particular a willingness to invest more aggressively to improve video and customer service, return of capital remains strong, and our view has shifted regarding M&A; we now expect a tie-up between CHTR and TWC is more likely than not.”
Time Warner Cable closed on Friday at $123.51.
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