Jefferies launches coverage on media names

"We view Time Warner (TWX) as a content machine without the issues associated with owning a TV network," says analyst John Janedis, starting the stock with a Buy and $80 price target.

"Having effectively de-risked the affiliate fee story by providing guidance through 2018, and with a secular tailwind of demand for Warner Bros. TV studio content, a compelling return of capital/leverage outlook, and improving ratings leading to peer-like ad growth, should allow the shares to outperform."

Also started at Buy is Viacom (VIA, VIAB), while Scripps Networks is begun with a Hold.

Previously: Interpublic Group boosted to Buy at Jefferies

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs