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TWX

Acquired by T

$92.57

-1.69 (-1.79%)

, T

AT&T

$34.70

-0.67 (-1.89%)

09:21
03/24/18
03/24
09:21
03/24/18
09:21

Time Warner shares look appealing with antitrust trial under way, Barron's says

Time Warner (TWX) investors face a "win-win" scenario with the antitrust trial for AT&T's (T) proposed takeover now under way in Washington, Andrew Bary of Barron's writes. Time Warner shares "look appealing, based on their underlying value and AT&T's strong chances of winning," Bary contends. He notes the stock closed Friday roughly $11 below the current value of AT&T's cash and stock bid, worth $103.60 per share. The 12% deal spread is appealing with "many observers" believing AT&T and Time Warner will prevail over the U.S. government, according to Bary. He adds that while Time Warner shares could fall $5 if the government wins, some analysts think the stock will quickly recover to its current price of $92.57. Reference Link

TWX

Acquired by T

$92.57

-1.69 (-1.79%)

T

AT&T

$34.70

-0.67 (-1.89%)

  • 24

    Apr

  • 25

    Apr

TWX Acquired by T
$92.57

-1.69 (-1.79%)

03/12/18
03/12/18
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. Time Warner (TWX) upgraded to Buy from Neutral at UBS with analyst John Hodulik saying while he expects the takeover by AT&T (T) to receive regulatory approval, he believes the current environment would make Time Warner's assets "highly attractive" to other media companies and Internet-based competitors were the deal to be blocked. 2. Carlyle Group (CG) and Apollo Global (APO) were upgraded to Buy from Neutral at Citi. 3. Merck (MRK) upgraded to Outperform from Market Perform at Leerink with analyst Seamus Fernandez saying Keytruda will continue to dominate the first-line non-small cell lung cancer market. 4. SAP (SAP) upgraded to Outperform from In Line at Evercore ISI with analyst Stewart Materne III saying that he believes the risk/reward is more attractive at current levels following the stock's 6% pullback. 5. Aratana Therapeutics (PETX) upgraded to Buy on valuation at CL King with the firm citing favorable risk/reward. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/18
LOOP
03/15/18
INITIATION
Target $107.5
LOOP
Buy
Time Warner initiated with a Buy at Loop Capital
Loop Capital analyst Alan Gould started Time Warner (TWX) with a Buy rating and $107.50 price target. The analyst believes acquisition by AT&T (T) will go through and that Time Warner shareholders will receive the $107.50 per share, a 12% return over the next two months. If the deal does not go through, Gould believes there is limited downside risk in Time Warner and thinks other interested parties would emerge.
03/19/18
JEFF
03/19/18
UPGRADE
Target $82
JEFF
Buy
Amdocs upgraded to Buy from Hold at Jefferies
Jefferies analyst Ramsey El-Assal upgraded Amdocs (DOX) to Buy and raised his price target for the shares to $82 from $70. Past mergers suggest that the AT&T (T) spend slowdown related to its acquisition of Time Warner (TWX) is only temporary, El-Assal tells investors in a research note. He believes a recovery is "on the horizon regardless of whether the merger is approved or not." The analyst sees upside to fiscal 2019 estimates for Amdocs.
03/23/18
WELS
03/23/18
NO CHANGE
Target $40
WELS
Outperform
AT&T price target lowered to $40 from $48 Wells Fargo
Wells Fargo analyst Jennifer Fritzsche lowered her price target for AT&T (T) to $40 from $48 given recent volatility and uncertainty around Time Warner (TWX) path. Nonetheless, the analyst reiterates an Outperform rating on AT&T shares and believes Q1 2018 will represent the second consecutive quarter of positive handset ads for the company.
T AT&T
$34.70

-0.67 (-1.89%)

03/16/18
ADAM
03/16/18
DOWNGRADE
Target $3
ADAM
Hold
Synacor downgraded to Hold at Canaccord
As previously reported, Canaccord analyst Michael Graham downgraded Synacor (SYNC) to Hold from Buy following Q4 results. The analyst said the AT&T (T) revenue contribution was higher than expected, but the portal and advertising business ex-AT&T declined. He said the AT&T portal monetization is also being pushed out further as engagement remains a top priority. Graham said he sees limited downside at current levels, but the overall lower visibility leads to the downgrade. He lowered his price target to $3 from $6 on Synacor shares.
03/16/18
RSBL
03/16/18
NO CHANGE
Target $4.75
RSBL
Buy
Synacor showing signs of improvement outside AT&T, says Rosenblatt
Rosenblatt analyst Marshall Senk noted that Synacor's (SYNC) Q4 results met guidance despite the slower than expected pace of monetization from AT&T (T). Outside of AT&T, the company's other business areas continued to show signs of improvement, said Senk, who lowered his price target on Synacor to $4.75 from $5.50 but keeps Buy rating on the stock.

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