Nomura Securities Maintains a 'Neutral' on Time Warner (TWX); Waiting for a Big Bang

Nomura Securities maintains a 'Neutral' on Time Warner (NYSE: TWX), price target lowered from $38 to $36.

Nomura analyst says, "Following the 2Q $0.03 beat and comments from the earnings call, we are maintaining our 2011E EPS of $2.77, +15% Y/Y growth vs. the 2010 adjusted base (just above the high end of “low teens” guidance). As the company suggested on the call, 3Q will be more difficult largely due to an SG&A and Programming step-up at the Networks, partially offset by stronger Film profits. The bulk of TWX 2011 profit growth looks back-end loaded, which could limit near-term stock performance."

For more ratings news on Time Warner click here and for the rating history of Time Warner click here.

Shares of Time Warner closed at $33.57 yesterday.

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