Barclays on U.S. Cable & Satellite Communications: Blending LSTZA and LCAPA Lowers LSTZA Rating
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Price: $66.84 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade LSTZA Now!
Barclays on U.S. Cable & Satellite Communications: Blending LSTZA and LCAPA Lowers LSTZA Rating to Equal Weight
Barclays analyst, James M. Ratcliffe, said, "In the wake of Liberty's announcement that it is combining the Liberty Starz (Nasdaq: LSTZA) and Liberty Capital (Nasdaq: LCAPA) trackers into a single stock (LMCA), we now value both stocks based on the expected value of the new Liberty Media into which they will be blended after the recombination."
"As a result, we are lowering our rating on LSTZA to EW and lowering our target price to $79 from $90, as the fixed exchange ratio between LCAPA and LSTZA locks in what we viewed as relative undervaluation of LSTZA vs. LCAPA. Our LCAPA rating remains EW, and our target price declines slightly to $89, reflecting mainly a lower market price for Sirius XM Nasdaq: SIRI).
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Barclays analyst, James M. Ratcliffe, said, "In the wake of Liberty's announcement that it is combining the Liberty Starz (Nasdaq: LSTZA) and Liberty Capital (Nasdaq: LCAPA) trackers into a single stock (LMCA), we now value both stocks based on the expected value of the new Liberty Media into which they will be blended after the recombination."
"As a result, we are lowering our rating on LSTZA to EW and lowering our target price to $79 from $90, as the fixed exchange ratio between LCAPA and LSTZA locks in what we viewed as relative undervaluation of LSTZA vs. LCAPA. Our LCAPA rating remains EW, and our target price declines slightly to $89, reflecting mainly a lower market price for Sirius XM Nasdaq: SIRI).
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