Time Warner (TWX) Shares Downgraded at Barclays; Tough Film Comps for '12, TV a Mixed Bag

Shares of Time Warner (NYSE: TWX) are trading down 0.56% this afternoon, relatively even with overall market performance (Dow down 0.61%, Nasdaq down 0.43%). The stock has gained almost 20% since Nov. 2011 and is trading near a 52-wk high (range $27.62 - 38.62) (last Friday's closing price $37.54)

Sharing the sentiment that the stock have moved up fast, this morning, analyst, Anthony J. DiClemente of Barclays, downgraded Time Warner from Overweight to Equalweight, but kept the $38 price target.

DiClemente said, "With a slightly more cautious outlook on company trends and shares trading near what we believe is full valuation of 11.9x 2012 EPS, we are downgrading TWX shares..."

DiClemente also noted that Warner Bros. (TWX's film division) is facing tough 2011 comparisons, thanks in part to the Harry Potter finale. For television, he believes the recent boost in TBS ratings may be short lived...on the positive side, internet streaming content deals may help give the company/shares a boost.

To see more ratings on TWX, Click Here

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