Credit Suisse Downgrades Time Warner (TWX) to Neutral Following Takeover

October 24, 2016 8:16 AM EDT
Get Alerts TWX Hot Sheet
Price: $96.11 +0.44%

Rating Summary:
    26 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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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."

For an analyst ratings summary and ratings history on Time Warner click here. For more ratings news on Time Warner click here.

Shares of Time Warner closed at $89.48 yesterday.

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