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Fly News Breaks for April 27, 2015
TWX
Apr 27, 2015 | 09:09 EDT
Citigroup raised its price target for Time Warner to $97 saying it expects HBO Now to generate 4M of incremental subscribers. Citi's new target includes $5 of option value for the over-the-top service. The firm believes HBO currently only captures about $8 of the $15 retail fee paid via a TV subscription. It expects the figure to be larger for HBO Now in an over-the-top world. Citi keeps a Buy rating on Time Warner.
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