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Recent News Should Keep Shares Of Time Inc Range-Bound Near Term

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Recent News Should Keep Shares Of Time Inc Range-Bound Near Term

Wells Fargo expects shares of Time Inc (NYSE: TIME) to be rangebound amid takeover rumors swirling around the company linking it to Meredith Corporation (NYSE: MDP) and Hearst.

The News

Analyst Eric Katz is not comfortable with the underlying fundamentals, but he also not ruling out the possibility of a deal, thus putting a potential floor under the current $18-ish stock price.

“Until a deal does or doesn't happen, we view TIME as sort of stuck—hence we maintain our Market Perform,” Katz wrote in a note.

Katz’s analysis shows a Meredith deal creates a combined company with revenue of $4.8 billion and EBITDA of $1.0 billion. Meanwhile, the analyst has wondered over Hearst buying Time given the former is known for its disciplined buyer.

Katz has a Market Perform rating has a valuation range of $13–$15. At last check, shares of Time were down 0.28 percent at $17.70.

Latest Ratings for MDP

DateFirmActionFromTo
Feb 2019Initiates Coverage OnBuy
Nov 2018MaintainsBuyBuy
Sep 2018MaintainsBuyBuy

View More Analyst Ratings for MDP
View the Latest Analyst Ratings

Posted-In: Eric KatzAnalyst Color M&A News Rumors Price Target Reiteration Analyst Ratings Best of Benzinga

 

Related Articles (MDP + TIME)

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Latest Ratings

StockFirmActionPT
XELMaintains60.0
SOMaintains54.0
SREMaintains141.0
EXCMaintains56.0
ESMaintains77.0
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