JANCO Partners Upgrades Liberty Media (LMCA) to Buy, Positive on Spin-Off of Starz LLC

November 29, 2012 10:54 AM EST
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Price: $28.31 --0%

Rating Summary:
    14 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 10 | New: 6
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JANCO Partners upgraded Liberty Media (NASDAQ: LMCA) from Accumulate to Buy with a price target of $130.00.

The firm comments, "We maintain our bullish outlook on shares of Liberty Media as the Company approaches a period that will be defined by the kind of financial restructuring that Liberty investors have come to expect. The Company plans on executing the spin-off of Starz LLC by year-end or early in 2013, and is currently awaiting IRS approval. Liberty Media has also been adding to its Sirius XM stake through open markets purchases as the Company continues to wait for a key FCC decision on its efforts to gain control. The result of these restructuring efforts will highlight the inherent value of the Starz businesses while leaving Liberty Media shareholders owning a company with increased simplicity, transparency and flexibility. Due to these pending developments and the ongoing performance of Liberty’s underlying investments we are updating our rating on shares of LMCA to $130 and placing a Buy rating the stock."

For an analyst ratings summary and ratings history on Liberty Media click here. For more ratings news on Liberty Media click here.

Shares of Liberty Media closed at $107.92 yesterday.

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