Pivotal Research Upgrades Time Warner (TWX) to Buy

November 2, 2016 1:18 PM EDT
Get Alerts TWX Hot Sheet
Price: $95.64 +0.56%

Rating Summary:
    26 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Pivotal Research upgraded Time Warner (NYSE: TWX) from Hold to Buy with a price target of $106. Analyst Brian Wieser thinks a sale to AT&T goes through.

"Time Warner reported good underlying 3Q16 results today, with even better results as reported due to a one-time tax benefit. Adjusting our price target for current trading levels of AT&T (and implicitly assuming that the sale goes through), we now value Time Warner at $106. Our recommendation returns to Buy from Hold to reflect the difference between current trading levels and our price target," said Wieser.

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 $88.25 yesterday.

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