Wedbush Downgrades Time Warner (TWX) to Neutral

October 17, 2016 7:46 AM EDT
Get Alerts TWX Hot Sheet
Price: $87.47 -0.94%

Rating Summary:
    23 Buy, 22 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
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Wedbush downgraded Time Warner (NYSE: TWX) from Outperform to Neutral and maintained a price target of $90.

Analyst James Dix commented, "... taking rating down a notch to Neutral, as shares’ run leaves less upside relative to our coverage universe. Our thesis reflects more modest upside to our PT (13%), given shares’ leading outperformance YTD (up 23% vs. coverage universe median up 1% and S&P 500 up 4%). We advise no rush to the exits, as our FY2017 estimates are actually ~1% above Street EBIT/EPS."

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 $79.55 yesterday.

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