UPDATE: UBS Upgrades Time Warner (TWX) to Buy; Stability/ Visibility Strengthening

September 5, 2012 7:33 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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(Updated - September 5, 2012 9:55 AM EDT)

UBS upgraded Time Warner (NYSE: TWX) from Neutral to Buy. PT raised from $39 to $50.

Analyst, John Janedis, said, "We are upgrading TWX shares as 1) we believe the co’s earnings will be more stable and predictable going forward, benefitting from the upcoming affiliate fee cycle (starting in ‘14); 2) we view TWX as a defensive play given less exposure to advertising vs. peers; 3) already significant returns of capital, through the co’s div. and share repurchase program, could increase and further benefit the stock; and 4) improved programming helps TWX grow adv. more in-line with peers for the first time in several Q’s (starting 4Q12)."

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 $41.35 yesterday.

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