Janco Partners Upgrades Liberty Capital (LCAPA) to Buy

October 13, 2008 10:51 AM EDT

Janco Partners upgrades Liberty Capital (Nasdaq: LCAPA) from Accumulate to Buy. Price target lowered from $23 to $16.39.

Janco analyst says, "We are raising our rating for LCAPA, as it appears that Germany will bail out certain distressed banks. With respect to the U.S., and Bank of America (NYSE: BAC), it appears that Bank of America has sufficient flexibility to navigate through these turbulent times. We believe concerns about the counterparty risk caused the majority of the decline in LCAPA’s share price last week. Our current price target for LCAPA is $16.39. Our current NAV price target was based upon the closing prices of LCAPA’s public investments, and mark-to-market values for the Sprint derivative, as well as the shares sold short."

Liberty Media Corporation is a holding company, which through its ownership of interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries.

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Related Entities

• Banc of America
• JANCO Partners

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