Wit SoundView Cuts AOL Time Warner Target

Analyst Jordan Rohan has become more conservative in his projections for the company's Turner cable networks

Wit SoundView lowered its price target on shares of media giant AOL Time Warner (AOL ) from $80 to $60.

Analyst Jordan Rohan says waning consumer confidence and the mixed operating performance of key advertising sectors automotive, telecom, consumer packaged goods, retail) have caused him to become a bit more conservative in his projections for the company's Turner cable networks. While he has maintained his $11 billion cash flow estimate for 2001, he has shifted some of the burden for 31% projected growth in total cash flow from Turner cable networks to Warner Bros. film division.

The analyst maintains his EPS estimates of $0.99 for 2001 and $1.31 for 2002. He also maintains his strong buy rating.

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