Wells Fargo Starts Time Warner (TWX) at Outperform; Long-Term Trends Are Intact; Short-Term Trends Are Improving
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Price: $2.23 --0%
Rating Summary:
14 Buy, 24 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 24 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on Time Warner (NYSE: TWX) with an Outperform. PT range $44-46.
Wells analyst says, "We are bullish on the long-term health of Time Warner Inc.'s various businesses and believe there could potentially be near-term upside to estimates via an improving TNT, TBS, and CNN (which together make up about 25% of TWX's adjusted OIBDA) in addition to an increased demand for HBO via HBO Go. While there has been some concern over HBO's longevity given the ramp-up in over-the-top technologies, we think HBO Go will alleviate subscriber defections; plus we see a significant opportunity for monetization outside of the United States via a direct-to-consumer model. Finally, we are not of the opinion that TWX is going to do a major SVOD deal right now, but as TV everywhere ramps up and a better measurement system is in place, we would not count this out as a possibility."
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 $37.54 yesterday.
Wells analyst says, "We are bullish on the long-term health of Time Warner Inc.'s various businesses and believe there could potentially be near-term upside to estimates via an improving TNT, TBS, and CNN (which together make up about 25% of TWX's adjusted OIBDA) in addition to an increased demand for HBO via HBO Go. While there has been some concern over HBO's longevity given the ramp-up in over-the-top technologies, we think HBO Go will alleviate subscriber defections; plus we see a significant opportunity for monetization outside of the United States via a direct-to-consumer model. Finally, we are not of the opinion that TWX is going to do a major SVOD deal right now, but as TV everywhere ramps up and a better measurement system is in place, we would not count this out as a possibility."
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 $37.54 yesterday.
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