NEW YORK (TheStreet) -- Time Warner (TWX) shares had coverage initiated with an "equal weight" rating by analysts at Barclays (BCS) who also set a $78 price target on Wednesday.
The firm believes that as the industry consolidates and the line between content producer and distributor is blurred that Time Warner will lose leverage.
"We are in the early stages of a new phase of industry transformation; one in which the boundaries between distribution and content are being blurred. Although this is widely perceived as a positive for the content owners because of monetization opportunities, the underlying theme which we believe investors and even industry participants are overlooking, is that relative leverage in the media value chain is changing as new layers of intermediation get added to content distribution," said analysts.
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Time Warner stock is up 0.4% to $71.04 in early trading today.
TheStreet Ratings team rates TIME WARNER INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: