Nomura Securities Maintains a 'Neutral' on Time Warner (TWX); Film Up but Networks Down

Nomura Securities maintains a 'Neutral' on Time Warner (NYSE: TWX) price target raised $3 to $36.00.

Nomura analyst, Michael Nathanson, said, "We are raising 2011E EPS by $0.07 to $2.84 after flowing through today’s $0.03 beat as well as incorporating incremental 4Q revenue related to the CW/Netflix (Nasdaq: NFLX) content deal. This represents EPS growth of 18% Y/Y, in line with the company’s raised guidance of “high teens”. Our higher EPS is driven by upside to Film estimates offset by lower Cable Networks projections. With the NBA lockout still unresolved, we believe that ratings and programming strategy will continue to lead the discussion."

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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