Time Warner Cable Still a “Buy” at Canaccord Genuity (TWC)

Cable TV and Internet provider Time Warner Cable Inc (TWC) on Monday saw its “Buy” rating reiterated by analysts at Canaccord Genuity.

The firm also backed its $96 price target, which suggests a 19% upside to the stock’s Friday closing price of $80.38.

A Canaccord Genuity analyst commented, “TWC with Insight: Adjusted OIBDA expectations. We expect TWC to report pro forma Adj OIBDA of $1.89B, 4.3% above the combined results last year. While this is slightly below the 4.5% growth we’re expecting for TWC classic (excluding Insight), we anticipate cost savings to kick-in in H2/12. For 2012, we expect ADJ OIBDA to grow 4.1% on a pro forma basis, above the 3.5% for TWC excluding Insight, due to $50M in programming and other cost savings.”

Time Warner Cable shares were mostly flat in early trading Monday.

The Bottom Line
We have been recommending shares of Time Warner Cable (TWC) since Jan.26, when the stock was trading at $69.11. The company has a 2.79% dividend yield, based on Friday’s closing stock price of $80.38.

Time Warner Cable Inc (TWC) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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