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Time Warner Shares Inexpensive, According To This Media Analyst

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Time Warner Shares Inexpensive, According To This Media Analyst
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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.

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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

DateFirmActionFromTo
Nov 2017Loop CapitalMaintainsHold
Nov 2017Pivotal ResearchUpgradesHoldBuy
Nov 2017RosenblattUpgradesNeutralBuy

View More Analyst Ratings for TWX
View the Latest Analyst Ratings

Posted-In: Albert Fried and Company Rich TulloAnalyst Color Analyst Ratings Trading Ideas Best of Benzinga

 

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