Pivotal Research Starts Liberty Media (LMCA) at Buy

September 13, 2016 8:26 AM EDT
Get Alerts LMCA Hot Sheet
Price: $28.31 -2.98%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Pivotal Research initiated coverage on Liberty Media (NASDAQ: LMCA) with a Buy rating and a price target of $35, implying upside of 50%. Analyst Jeffrey Wlodarczak sees Formula 1 as an attractive business.

"We are initiating coverage on Liberty Media, soon to be known as Formula One Group (1Q’07), with a BUY rating and a $35 ’17 YE target which represents ~50% upside from current share price levels. In our opinion, Liberty’s acquisition of the Formula 1 racing league [F1], a very rare global sports content play and the #3 most watched global sporting event after the World Cup and the Olympics is a potential home run transaction. We expect Liberty management and former NWS COO/DTV CEO Chase Carey to drive improvements in the core racing product, exploit media/new media revenue opportunities dramatically better than the current owners, and long term attack the U.S. opportunity," said Wlodarczak.

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 $24.03 yesterday.

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