Bank of America(NYSE:BAC) has gone out with new coverage on the media sector for today. Time Warner Inc. (NYSE: TWX) and News Corp. (NYSE: NWS) have been initiated with "BUY" Ratings.
At Time Warner's AOL the analyst note is expecting a turnaround, and the "BUY" rating has a $25.00 target.
Oddly enough, it appears that Bank of America feels that the News. Corp. acquisition of Dow Jones (NYSE: DJ) would be a good fit and that recent weakness around the stock has been tied to the aggressive offer for the company.
Elsewhere in the sector, Viacom Inc. (NYSE: VIA) and Walt Disney Co. (NYSE: DIS) were given "Neutral" ratings.
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
Bank of America new media coverage: Time Warner and News Corp noted as Buys
Posted Jun 19th 2007 12:20PM by Jon Ogg
Filed under: Before the bell, Time Warner (TWX), Walt Disney (DIS), Viacom (VIA), Bank of America (BAC), News Corp'B' (NWS), Dow Jones and Co (DJ), Analyst initiations
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