Credit Suisse Downgrades Time Warner (TWX) to Neutral Following Takeover
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Credit Suisse downgraded Time Warner (NYSE: TWX) from Outperform to Neutral with a price target of $107.50 (from $90.00) after the company agreed to be acquired by AT&T for $107.50 per share.
Analyst O. Sheikh commented, "We believe the value of the offer is full on current earnings and cash flow; that the probability of a counter-offer from a third party is low; and that the transaction will face lengthy scrutiny from regulators. We now see better opportunities elsewhere in US Media."
Shares of Time Warner closed at $89.48 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Barclays Upgrades Essex Property Trust (ESS) to Overweight
- Barclays Downgrades Camden Property Trust (CPT) to Equalweight
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesCredit Suisse, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!