UPDATE: Morgan Stanley Reiterates On Time On Reasons For Caution

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In a report published Thursday, Morgan Stanley analyst Toni Kaplan reiterated an Equal-Weight rating on
TimeTIME
, but removed the $26.00 price target. In the report, Morgan Stanley noted, “MPA 360˚ data showed TIME continuing to outpace the industry in Sept, with growth driven largely by mobile. TIME's share of audience viewership increased by 108 bps y/y to 23.9%, the highest in the industry. Audience consumption ultimately drives advertising dollars, so TIME is in a position of relative strength.” Time closed on Wednesday at $19.94.
Posted In: Analyst ColorPrice TargetAnalyst RatingsMorgan StanleyToni Kaplan
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