Canaccord Genuity Maintains a 'Buy' on Liberty Media (LMCA); $9-14 Upside From Spin/Merge its SIRI Stake
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Price: $124.12 -0.59%
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade LMCA Now!
Canaccord Genuity maintains a 'Buy' on Liberty Media (NASDAQ: LMCA) price target of $101.00.
Analyst, Thomas Eagan, said, "With LMCA’s 5/30/12 FCC filing, we believe the company is preparing to take the next steps towards merging its Sirius (Nasdaq: SIRI) stake with SIRI itself. We expect a merger is one of several catalysts that will serve to reduce the 21% discount of the company’s stock price to its current NAV and the 17% discount to our $101 target. Other catalysts include selling nonstrategic public holdings and repurchasing shares. Additional catalysts, such as a Starz affiliation renewal with Time Warner Cable (NYSE: TWC) and a licensing deal with an OVD, would actually increase the NAV."
For an analyst ratings summary and ratings history on Liberty Media click here. For more ratings news on Liberty Media click here.
Shares of Liberty Media closed at $84.50 yesterday, with a 52 week range of $72.70-$104.34.
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Analyst, Thomas Eagan, said, "With LMCA’s 5/30/12 FCC filing, we believe the company is preparing to take the next steps towards merging its Sirius (Nasdaq: SIRI) stake with SIRI itself. We expect a merger is one of several catalysts that will serve to reduce the 21% discount of the company’s stock price to its current NAV and the 17% discount to our $101 target. Other catalysts include selling nonstrategic public holdings and repurchasing shares. Additional catalysts, such as a Starz affiliation renewal with Time Warner Cable (NYSE: TWC) and a licensing deal with an OVD, would actually increase the NAV."
For an analyst ratings summary and ratings history on Liberty Media click here. For more ratings news on Liberty Media click here.
Shares of Liberty Media closed at $84.50 yesterday, with a 52 week range of $72.70-$104.34.
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