Analyst Downgrades His Rating On Time Warner Inc (TWX)
Analyst Barton Crockett from FBR Capital downgraded his rating on Time Warner Inc (NYSE:TWX) to a Market Perform rating with a price target of $81, marking a 3% increase from current levels. The main reason for this downgrade is because the stock is within 3% of his price target. He is also skeptical that CNN’s ratings, which have gone up due to the election, can continue into next year. Crockett also mentions how TWX will benefit from upcoming D.C. Comics movie Suicide Squad. Nonetheless, he sees “a death of catalysts.”
According to TipRanks, Crockett has a success rate of 60% with an average return of 8.3% per recommendation.