Stifel Upgrades Starz (STRZA) to Buy
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Stifel upgraded Starz (NASDAQ: STRZA) from Hold to Buy with a price target of $36.00.
Analyst Benjamin Mogil commented, "We are upgrading Starz to a Buy and establishing a $36 target price. Our upgrade is predicated on continued strong operating results, attractive valuation support in light of the recent AT&T/TWX deal as well as optionality to further bolster its premium TV offering with the take-in of EPIX. 3Q16 results showed stronger than expected subscriber revenue growth while elevated programming costs dented results, commentary on lower than expected full year costs lead us to increase our estimates for the year. We are now Buy rated."
Shares of Starz closed at $31.00 yesterday.
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