As AOL stock begins limited trading, analyst takes a look at potential value

AOL, or "Aol.," as DailyFinance's corporate parent shall soon be known, won't be spun off from Time Warner (TWX) until Dec. 9, but Wall Street is already forecasting its (or should we say, "our") business prospects.

Barclays Capital analyst Douglas Anmuth laid out his earnings estimates for soon-to-be-independent AOL on Tuesday, coinciding with the stock trading on a "when-issued" basis on the New York Stock Exchange. (A when-issued listing is standard practice ahead of a spin-off in order to ensure a smooth transition for market participants.)