Citadel Securities Downgrades Time Warner Cable (TWC) to Add; Trading at Premium Valuation
Tweet Send to a FriendGet Alerts TWC Hot Sheet
Price: $95.56 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 8
Trade TWC Now!
Citadel Securities downgraded Time Warner Cable (NYSE: TWC) from Edge Positive to Add. PT maintained at $81.
Citadel analyst said, "TWC shares have appreciated along with the rest of the cable industry since we initiated coverage in October 2010. While we are reducing our rating on TWC to Add, we are maintaining our $81 target price and remain positive on the shares. We continue to view Time Warner Cable as a favored choice for cable investors because of its healthy operations, relatively strong corporate governance, transparent disclosure, and commitment to returning capital to shareholders. TWC warrants a premium valuation, in our view, even while its shares trade in line with peers on 2011E free cash flow yield, both lever and unlevered, and EV/EBITDA."
For more ratings news on Time Warner Cable click here and for the rating history of Time Warner Cable click here.
Shares of Time Warner Cable closed at $75.48 yesterday, with a 52 week range of $50.36-$78.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Citadel analyst said, "TWC shares have appreciated along with the rest of the cable industry since we initiated coverage in October 2010. While we are reducing our rating on TWC to Add, we are maintaining our $81 target price and remain positive on the shares. We continue to view Time Warner Cable as a favored choice for cable investors because of its healthy operations, relatively strong corporate governance, transparent disclosure, and commitment to returning capital to shareholders. TWC warrants a premium valuation, in our view, even while its shares trade in line with peers on 2011E free cash flow yield, both lever and unlevered, and EV/EBITDA."
For more ratings news on Time Warner Cable click here and for the rating history of Time Warner Cable click here.
Shares of Time Warner Cable closed at $75.48 yesterday, with a 52 week range of $50.36-$78.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Exane BNP Paribas Downgrades BlackBerry (BBRY) to Underperform; Analyst Says Profit 'Drying Up'
- Albert Fried Downgrades Pandora (P) to Market Perform
- HSBC Downgrades Carnival Corporation (CCL) to Neutral
Create E-mail Alert Related Categories
Downgrades
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
