Time Warner CLEC Takes Off


Dain Rauscher Inc. analyst Jonathan Atkin restated a "strong buy-average" rating and set a 12-month price target of $91 per share on Time Warner Telecom Inc., based on strong second-quarter earnings and its ability to roll out new services. For the quarter, the competitive local-exchange carrier more than doubled revenue to $132 million and cash flow soared tenfold to $47.7 million, ahead of expectations. The company also said it was on track to roll out next-generation gigabit Ethernet and packet-telephony services. "TWTC appears uniquely positioned among its peers," Atkin wrote. Time Warner Telecom closed at $62.75 Aug. 8, down $2.38.