Goldman Sachs has raised its Time Warner Inc. (NYSE:TWX) target ahead of earnings tomorrow. The neutral rating is maintained, but what is interesting is that the firm raised its price target to $25. This also says the 2006 EPS target was taken down to $0.83 from $0.85, but everything else actually increased.
Goldman is putting 2007 EPS estimates at $1.07 and 2008 EPS estimates at $1.27. What is interesting about this call and one that may pique interest is that it says "we cannot discuss the drivers of these changes as we remain legally restricted from discussing segments beyond AOL."
TWX reports Q4 2006 results tomorrow and Goldman Sachs has its estimates at $12.6 billion revenues, $3.3 EBIDTA, and $0.25 EPS (all are above consensus); although it is not including $200 million in restructuring charges from the AOL unit in this number.
Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.
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