Stifel Reiterates Hold on Lionsgate (LGF) Following 'Deepwater Horizons' Opening
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Stifel reiterated a Hold rating and $22.00 price target on Lionsgate (NYSE: LGF) following the opening of Deepwater Horizons. Assuming a November close with the Starz merger, this will be the last LGF film which is likely material to guidance. Stifel expects that by the next earnings call, the company will likely tighten its consensus range.
Analyst Benjamin Mogil commented, "Lions Gate's biggest film of the year, "Deepwater Horizons" opened to $20.6mn domestically. While in-line with expectations as the release neared, we have to believe that guidance included a meaningful contribution from the company's largest film of the year which may not be met. On the plus side, this is the last LGF title to have a material impact on guidance given the certainty of the soon to be incorporated Starz cash flows."
Shares of Lions Gate closed at $19.99 yesterday.
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