Stifel Upgrades Lions Gate (LGF) to Buy
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Stifel upgraded Lions Gate (NYSE: LGF) from Hold to Buy with a price target of $26.00.
Analyst Benjamin Mogil commented, "Following Starz's 3Q16 better than expected subscriber growth and annual cost guidance slightly below our estimates, we are upgrading our rating on Lions Gate to a Buy from a Hold (as we did the same for Starz) as Starz contributes 70% of consolidated post-merger EBITDA. We view the continued improvement in Starz's fundamentals as offsetting what continues to be a weak slate at Lions Gate. We establish a target price of $26."
Shares of Lions Gate closed at $19.78 yesterday.
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