Time Warner (TWX) PT Boosted to $96 at JPMorgan

JPMorgan analyst Alexia Quadrani reiterated an Overweight rating and boosted her price target on Time Warner (NYSE: TWX) to $96.00 (from $91.00) as earnings growth accelerates.

"We believe shares at 15.1x our 2016E earnings do not appropriately reflect an accelerating EPS growth outlook and this therefore creates an attractive entry point to a high quality content play within Media," Quadrani said.

The analyst added, "We project TWX will grow earnings by a high teens EPS CAGR over the next several years, including 22% in 2016, as it benefits from accelerating affiliate revenue growth following a reset of its major renewals, as well as increasing monetization at HBO (both sub growth and distributor terms). We look to announcements of TWX signing its two remaining affiliate deals among top five distributors as well as strong Q2 results (helped by outperformance in Film) as potential near-term catalysts for the stock."

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 $86.18 yesterday.

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