Cable TV and Internet provider Time Warner Cable Inc. (
) on Wednesday caught some continued bullish commentary from
analysts at Needham & Co.
The firm reiterated its "Buy" rating and $95 price target, which
suggests a 16% upside to the stock's Tuesday closing price of
A Needham analyst commented, "We are revising our estimates to
account for TWC's acquisition of Insight Communications, which
closed on 2/29/12, as follows: We raise our 2Q12 revenue to $5.382B
(up 9% y/y and 2% higher than our previous estimates) and we
maintain our Operating EPS at $1.38 (up 17% y/y)…For FY12, we raise
our revenue estimate to $21.36B (up 9% y/y and 2% higher than our
previous estimates), and we raise our Operating EPS by 0.7% to
$5.64 (up 21% y/y and 1% higher than our previous estimates)…For
FY13, we raise our revenue estimate to $22.182B (up 4% y/y and 1%
higher than our previous estimates) and we maintain our Operating
EPS at $7.10 (up 26% y/y)."
Time Warner Cable shares were mostly flat in premarket trading
The Bottom Line
Shares of Time Warner Cable (
) have a 2.74% dividend yield, based on last night's closing stock
price of $81.85. The stock has technical support in the $74-$75
price area. If the shares can firm up, we see overhead resistance
around the $85-$86 price levels.
Time Warner Cable Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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