Deutsche Bank Upgrades Liberty Media (LMCA) to Buy
Get Alerts LMCA Hot Sheet
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 2 | New: 35
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Upgrades Mersana (MRSN) to Neutral, 'thinking through Expectations for Midyear B7-H4 Updates'
- Guggenheim Starts Globant S.A. (GLOB) at Buy
- UBS Downgrades MediaTek Inc. (2454:TT) (MDTKF) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT Change, UpgradesRelated Entities
Deutsche BankSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!