NEW YORK (TheStreet) -- Shares of Time Warner Inc. (TWX) are up 2.32% to $85.06 after several financial firms boosted its price target or rating Thursday morning following the rejection of an $80 billion bid from Twenty-First Century Fox Inc. (FOXA).
JPMorgan (JPM) raised its price target to $90 from $80, and said 21st Century Fox will need to bid $95 per share or more, possibly with greater mix of cash, to acquire Time Warner.
Janney Montgomery Scott upgraded it to "buy" from "neutral" and raised its price target to $100 from $71.90.
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Topeka Capital Markets raised its price target to $70 from $68 and maintained its "hold" rating.
RBC Capital Markets raised its price target to $76 from $73 and maintained its "outperform" rating.
FBR Capital Markets (FBRC) raised its price target to $90 from $80 and kept its "outperform" rating.
Guggenheim upgraded its rating to "buy" from "neutral."
Separately, 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:
"We rate TIME WARNER INC (TWX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."