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Wunderlich Securities analyst Matthew Harrigan upgraded Time Warner Cable (NYSE: TWC) from Hold to buy and raised the price target from $146 to $190.
This is a reaction to a possible merger with Comcast (NASDAQ: CMSCA).
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Harrigan expects a possible deal between Charter or Cox and Time Warner if the Comcast merger falls through; however, Harrigan is uncertain of the compatibility of Time Warner and Charter or Cox. If the Comcast deal is denied, the analyst expects Time Warner to redo its technology road map similar to Comcast, with a possible upgrade to the X1 platform.
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Harrigan believes that there is little motivation for the FCC not to allow the deal to go through. Aside from Comcast’s close relationship to Washington, the FCC should be motivated by “deal concessions that will determine de facto industry net neutrality/ broadband practices.”
Time Warner displayed no change in pre-market prices Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.