Time Warner (TWX) Price Target Raised to $111 at Topeka Capital

Topeka Capital maintained a Buy rating on Time Warner (NYSE: TWX) and raised its price target to $111.00 (from $90.00).

Analyst David W. Miller said, "With shares of TWX up a cool 17.0% since our upgrade to Buy a mere seven weeks ago, easily outperforming the market, and with the stock now sitting a mere 6.5% away from that target price, we obviously have the choice between downgrading the stock, or raising our target. We are executing on the latter, as we now move back to a "PE/G of 1" philosophy on core, 2016 non-GAAP EPS. Seeing as how that CAGR will be 18.5%, we now move to an 18.5x P/E, which allows us to boost our target to $111.00 from $90.00."

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 $84.48 yesterday.

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