UPDATE: Bank of America Moves to No Rating on Time Warner Cable Following Comcast Bid
In a report published Tuesday, Bank of America analyst Jessica Reif Cohen moved to No Rating on Time Warner Cable (NYSE: TWC).
In the report, Bank of America noted, “After Comcast's 2/13/14 surprise $45bn all-equity bid for Time Warner Cable (TWC), we move to No Rating; although the bid is friendly, the regulatory process might take close to a year to play out. During this protracted period, we are no longer able to offer an investment recommendation based on fundamentals.”
Time Warner Cable closed on Friday at $146.00.
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