Lionsgate (LGF): Two Weak Titles Create Earnings Risk - Stifel
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Stifel analyst, Benjamin Mogil, reiterated his Hold rating on shares of Lions Gate (NYSE: LGF), after "Blair Witch" opened well below expectations at nearly half the expected box office. Poor word of mouth and exit polls not only lead to the weekend decline to accelerate but bodes poorly going forward. While the film was not a big driver in guidance, expectations were rising during last week bolstering the stock.
The analyst also views tracking on "Deepwater Horizon" as weak, but with that film the biggest for the year for LGF a weak opening has material implications.
The analyst has no official price target due to the Hold rating.
Shares of Lions Gate closed at $21.59 yesterday.
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