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TIME

Time Inc.

$17.50

-0.05 (-0.28%)

, MDP

Meredith

$58.85

-0.05 (-0.08%)

06:32
12/22/16
12/22
06:32
12/22/16
06:32

Citi sees sale as most likely option for Time Inc.

Citi analyst Jason Bazinet believes a company sale is the most likely option for Time Inc. (TIME). He raised his price target for the shares to $20 from $17 and keeps a Buy rating on the name. Meredith (MDP) is the most likely bidder for Time, the analyst tells investors in a research note. He sees upside of $23 per share for Time, which assumes a sale following a turnaround, and potential downside of $14, which assumes no sale and no turnaround.

TIME

Time Inc.

$17.50

-0.05 (-0.28%)

MDP

Meredith

$58.85

-0.05 (-0.08%)

TIME Time Inc.
$17.50

-0.05 (-0.28%)

05/19/16
MACQ
05/19/16
UPGRADE
MACQ
Outperform
Time Inc. upgraded to Outperform from Neutral at Macquarie
05/19/16
05/19/16
UPGRADE

Outperform
Time Inc. upgraded to Outperform at Macquarie
As previously reported, Macquarie upgraded Time Inc to Outperform from Neutral. The firm's analyst believes Time will see a dramatic turnaround in earnings and cash flow beginning in the second half of this year following heavy cost cutting and investments in content.
05/19/16
05/19/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Wells Fargo analyst Craig Bijou upgraded Mazor Robotics (MZOR) to Outperform, saying the stock has more appreciation potential after yesterday's rally on its commercial agreement with Medtronic (MDT). The partnership "provides a strong endorsement" of Mazor's next-generation technology, Bijou told investors. 2. Macquarie upgraded Time Inc. (TIME) to Outperform from Neutral, as the firm's analyst believes Time will see a dramatic turnaround in earnings and cash flow beginning in the second half of this year following heavy cost cutting and investments in content. 3. RBC Capital analyst Robert Stallard upgraded L-3 Communications (LLL) to Outperform and increased his price target to $150 from $137. Following management meetings, the analyst has increased confidence L-3 is on track to achieve its long-term operating margin goals and improved execution. 4. Halliburton (HAL) upgraded to Buy from Neutral at Griffen Securities. 5. Credit Suisse (CS) upgraded to Buy from Neutral at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/16
WELS
11/28/16
NO CHANGE
WELS
Market Perform
Time Inc. board could be estimating value at $23 per share, says Wells Fargo
Wells Fargo analyst Eric Katz said that if Time Inc.'s board "truly believes" that $300M in free cash flow is achievable in the next 3-5 years, than he "can understand" why they rejected the reported offer of $18 per share from Edgar Bronfman Jr. and Leonard Blavatnik, as that FCF equates to $23 in equity value per share with an OIBDA multiple of 6x, which he said "doesn't sound like a particularly aggressive multiple for a publisher." Katz wouldn't rule out other PE bidders and "wouldn't be shocked" if other industry players got involved, though he keeps a Market Perform rating on Time Inc. shares, noting that finding buyers for brands, or being willing to shut down brands, "may be easier said than done" by any potential buyer.
MDP Meredith
$58.85

-0.05 (-0.08%)

01/28/16
WELS
01/28/16
NO CHANGE
WELS
Meredith likely to be range bound for a few quarters, says Wells Fargo
After Meredith (MDP) and Media General (MEG) terminated their merger, Wells Fargo expects Meredith's stock to be range bound for a few quarters, since it believes that no M&A deals in the broadcast sector will take place until the spectrum auction is over 6-9 months from now. Wells says that Meredith's magazines business continues to weaken its results, and it keeps a Market Perform rating on the shares.
10/27/16
10/27/16
NO CHANGE

Meredith reports Q1 EPS 75c, consensus 72c
Reports Q1 revenue $400M, consensus $400.44M.

TODAY'S FREE FLY STORIES

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SIG

Signet Jewelers

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-0.74 (-0.97%)

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GDX

Market Vector Gold Miners

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GLD

SPDR Gold Trust

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NUGT

Direxion Gold Miners Bull

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-0.88 (-2.95%)

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SIG

Signet Jewelers

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-0.74 (-0.97%)

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JNUG

Direxion Daily Jr Gld Mnrs Bull 3X Shrs

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HZN

Horizon Global

$14.38

0.49 (3.53%)

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Conference/Events
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DUST

Direxion Daily Gold Miners Bear 3X ETF

$27.02

0.93 (3.56%)

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HK

Halcon Resources

$7.12

0.08 (1.14%)

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JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$65.13

3.43 (5.56%)

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MBIN

Merchants Bancorp

$17.68

0.05 (0.28%)

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MBIN

Merchants Bancorp

$17.68

0.05 (0.28%)

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VXX

iPath S&P 500 VIX Short-Term Futures

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BA

Boeing

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MAG

MAG Silver

$10.98

-0.07 (-0.63%)

06:54
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MAG Silver rating change  »

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MDT

Medtronic

$78.90

-0.59 (-0.74%)

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Hot Stocks
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FSM

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CDE

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