Lionsgate (LGF): Cutting 2Q Estimates But Not Rating - B.Riley
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B. Riley analyst, Eric Wold, reiterated his Buy rating on shares of Lions Gate (NYSE: LGF) but is cutting 2Q estimates. The opening for Deepwater Horizon puts the film on-track to exceed expectations but will mostly benefit Q3 results. The analyst is cutting Q2 estimates with final the box office in the books and while a handful of films disappointed in Q2, this does not derail the positive thesis on either 1) an expectation for more stabilized results for standalone LGF with a diversified film slate and ramping TV production revenues; or 2) the strategic benefits of the LGF/STRZA combination.
No change to the price target of $34.
Shares of Lions Gate closed at $19.99 yesterday.
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