Time Warner (TWX) PT Raised to $105 at Wedbush

October 24, 2016 7:46 AM EDT
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Price: $94.87 +0.78%

Rating Summary:
    26 Buy, 19 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Wedbush analyst James Dix raised his price target on Neutral-rated Time Warner (NYSE: TWX) to $105.00 (from $90.00) after the company agreed to be acquired by AT&T.

Dix commented, "AT&T’s $107.50 per share, 50-50 cash-stock (less if T<$37.411, more if >$41.349), is almost 20% above our prior PT, a control premium too good for TWX to pass up. Questions about AT&T’s strategy—now of vertical integration (er, building a better bundle), apparently—, escalating regulatory hurdles for those deciding they want to be Comcast when they grow up, and dynastic control of the other large-cap media companies we cover lead us to see this as a one-time TWX bonanza, not the beginning of a big media gold rush. Candidate Donald Trump has tweeted his opposition to the deal. Trivia—TWX pre-announced 3Q EPS beat."

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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