Time Warner’s Estimates Upped at Morgan Stanley (TWX)


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Media and entertainment giant Time Warner Inc. ( TWX ) saw its earnings estimates raised on Thursday by analysts at Morgan Stanley.

The firm said it boosted its estimates for TWX through 2012, noting that its Media unit should drive near-term earnings growth. Morgan Stanley currently rates the stock as "Equal-weight" with a $37 price target.

That target represents a potential 22% upside to TWX's Wednesday closing price of $30.44. Time Warner shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of TWX have a dividend yield of 2.79%, based on last night's closing stock price of $30.44. The stock has technical support in the $27 price area. If the shares can firm up, we see overhead resistance around the $33 price level. We would remain on the sidelines for now.

Time Warner Inc. ( TWX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks

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