Time Warner: Jefferies no longer a buyer.
(CercleFinance.com) - Jefferies has downgraded its rating on Time Warner from "buy" to "hold," with the media and entertainment group's share approaching the broker's target price of 105 dollars, which it is maintaining.
The broker points out that Time Warner has unveiled solid Q2 results, with EPS of 1.33 dollar, 12 cents above expectations. However, against this, the outlook for advertising is weaker than anticipated.
Jefferies is increasing its FY 2017 assumptions for operating profit to 8.17 billion dollars (+7.5%), with EPS forecast at 6.11 dollars, compared with respectively 8.14 billion dollars and 6.04 dollars expected previously.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker points out that Time Warner has unveiled solid Q2 results, with EPS of 1.33 dollar, 12 cents above expectations. However, against this, the outlook for advertising is weaker than anticipated.
Jefferies is increasing its FY 2017 assumptions for operating profit to 8.17 billion dollars (+7.5%), with EPS forecast at 6.11 dollars, compared with respectively 8.14 billion dollars and 6.04 dollars expected previously.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.