Wunderlich Has Hold Rating On Time Warner Cable

Wunderlich Securities is out with a research report on Time Warner Cable Inc. TWC and it has a Hold rating and a $80 price target on shares. In a note to clients, Wunderlich Securities writes, "We are retaining our Hold rating on Time Warner Cable (TWC) while providing a final Q2 forecast following last week's results for FiOS and U-verse additions, which are integrated into our U.S. cable model. This is complemented with an analysis of the effects from Over-the-Top (OTT) video erosion and U.S. household formation activity for valuation and operating results. We continue to prefer Comcast (CMCSA-$25.03, Buy) off the upside from the NBCU joint venture and what we perceive as generally better PSU activity as indexed to footprint—although TWC has admittedly been far superior in returning capital to shareholders." Shares of TWC closed at $78.45 yesterday.