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Deutsche Bank Upgrades Liberty Media (LMCA) to Buy

August 4, 2015 6:41 AM EDT
Get Alerts LMCA Hot Sheet
Price: $30.10 --0%

Rating Summary:
    11 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 2 | New: 35
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Deutsche Bank upgraded Liberty Media (NASDAQ: LMCA) from Hold to Buy with a price target of $46.00 (from $43.00), suggesting 21% upside.

Analyst Bryan Kraft said, "The discount to NAV has widened to 17%, vs 9% a year ago (before the Broadband spin), despite now having a more focused portfolio. We understand that absent a catalyst, investing capital into a narrowing discount story doesn't seem that compelling. However, we do see catalysts, although they appear to be 1-2 years away. This might seem like a long horizon to some, but we see a certain inevitability to how this will play out. Essentially, we think accretion in Liberty's Sirius ownership from Sirius' repurchase program will drive an elimination of the discount over time."

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 $38.04 yesterday.



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