Time Warner Shares Inexpensive, According To This Media Analyst
Shares of Time Warner Inc (NYSE: TWX) are inexpensive on a relative and absolute basis, according to Rich Tullo, Director of Research at Albert Fried & Company. In a note released on Thursday, the firm believes Time Warner's two units are poised to "execute better" than Wall Street expects.
The firm has an Overweight rating and $90 price target on Time Warner.
"Turner looks poised for a modest return to growth driven by "low teens" escalating affiliate fees, a modest rebound in scatter market ad rates, programmatic advertising and new programming investment," Tullo commented.
The media analyst also sees Warner Brothers as "one of the top TV and Movie producers globally." The firm believes Warner Brothers may be able to launch more $1 billion box office movie franchises.
"We expect Time Warner to rollout the Justice League, the DC Villains, and a Harry Potter companion series – Fantastic Beasts. We are most optimistic about DC Villains as fans seem to love; The Joker, The Penguin, Harley Quinn and Bane," the firm noted.
Shares of Time Warner recently traded at $69.77, up 1.2 percent on the day.
Latest Ratings for TWX
|Oct 2016||Evercore ISI Group||Downgrades||Buy||Neutral|
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