Market Overview

Morgan Stanley Increased TWC PT To $78

Share:

Morgan Stanley has issued a report raising the Price Target on Time Warner Cable (NYSE: TWC) from $74 to $78 a share.

Morgan Stanley writes, “Our higher price target is based on the assumption TWC reaches a ~3.25x debt leverage target by YE'12 through share repurchases ($3.9B and $3.6B in ‘11E and ‘12E) and dividend growth. Given TWC's ~6.0% average cost of debt and implied FCF yield of TWC's equity, the increased repurchase activity relative to our prior estimates raises long-term equity value.”

TWC is rated Equal-Weight and closed at $72.80 a share yesterday.

Posted-In: Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (TWC)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
VIACJP MorganReinstates50.0
NUVASVB LeerinkMaintains92.0
SRPTCantor FitzgeraldMaintains211.0
SRPTPiperJaffrayMaintains210.0
LULUGoldman SachsMaintains219.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

JP Morgan Raises UIL PT To $30

Goldman Sachs Remains Neutral On KAR Auction Services (KAR)