UBS Remains Bullish on Time Warner (TWX) Following Evidence Lab Analysis
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UBS reiterated a Buy rating and $87.00 price target on Time Warner (NYSE: TWX) following an Evidence Lab analysis. Following a soft 2015 for Warners film, Batman vs. Superman (opening 3/25) kicks off a series of 10 DC Comics films the next 5 years, including BvS bringing together several characters from the DC Universe for the first time. UBS Evidence Lab undertook an analysis of social media data to determine the film's potential. UBS estimates a $150m-$200m U.S. opening weekend, well ahead of recent $120m-$140m tracking. This included YouTube trailer views and Facebook likes globally suggesting a social profile similar to Avengers: Age of Ultron ($191m open, 5/1/15) & ahead of Deadpool ($132m open, 2/12/16).
Analyst Doug Mitchelson commented, "We raised our film estimates based on our Evidence Lab analysis of tracking for Batman vs. Superman: Dawn of Justice (BvS) and our bottoms-up analysis of Warners film slate. We raised 2016e EPS $0.05 to $5.41 (+14% Y/Y); 2017e $0.06 to $6.10 (+13% Y/Y)."
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 $72.14 yesterday.
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