Caris downgrades Time Warner (TWX -1.1%) to Average from Above Average on a valuation call after...

|About: Time Warner Inc. (TWX)|By:, SA News Editor

Caris downgrades Time Warner (TWX -1.1%) to Average from Above Average on a valuation call after shares soared 42% over the last year. Though The Dark Knight Rises is a global blockbuster, those results are already baked into share price, according to analyst David Miller. In addition, he sees a looming battle between Turner networks and cable companies over fees.