Morgan Stanley Upgrades Time Warner to “Overweight” (TWX)

Morgan Stanley analysts upgraded Time Warner Inc (TWX) early on Thursday as they believe the entertainment and media company’s publishing spin-off should help highlight a business that is leveraged to a healthy and growing TV environment.

The analysts upgraded TWX from “Equal-Weight” to “Overweight” and see shares reaching $72. This price target suggests a 14% upside to the stock’s Wednesday closing price of $63.34.

Time Warner shares were up 66 cents, or 1.03%, during morning trading on Thursday. The stock is up 34.06% year-to-date.