MGM Resorts (NYSE:MGM): Wells Fargo thinks that MGM’s stock could reach $25-$27 over the next 12 months, driven partly by better-than-expected Macau trends and new project wins. However, the firm thinks that the company faces timing and execution risks, and keeps a Market Perform rating on the shares.
Time Warner (NYSE:TWX): As previously reported, Morgan Stanley upgraded Time Warner to Overweight from Equal Weight. The analyst believes that Time Warner is now a “concentrated bet” on global TV growth and has multiple earnings drivers that include top-line expansion at WBTV, acceleration in subscription revenue growth, monetization of the TV library, and buyback activity. The shares’ price target has been raised to $72.
Take-Two Interactive (NASDAQ:TTWO): Breana Capital noted better than expected sales for Take-Two’s Grand Theft Auto V. The firm believes its sales will boost other third party developer’s earnings forecasts and, although it is on pace to exceed expectations, it will not be enough to change the firm’s Neutral rating.
21st Century Fox (NASDAQ:FOXA): Citigroup thinks that 21st Century Fox will be one of the fastest growing media companies it covers between 2013 and 2016. Citi believes that Fox could have $20 billion of excess cash by 2016, which it feels may be used for buybacks or a potential acquisition of British Sky Broadcasting (BSYBY.PK). The firm keeps a Buy rating on 21st Century Fox with a $33.50 price target.