Jefferies Cuts Price Target After Lionsgate (LGF) Reports Disappointing 3Q Results

Jefferies maintained a Buy rating on Lionsgate (NYSE: LGF), and cut the price target to $30.00 (from $44.00), following the company's 3Q earnings report. LGF reported disappointing F3Q results, but did not lower the 3-yr EBITDA guidance. However, the company did acknowledge that they were currently tracking below the range.

Analyst John Janedis commented, "LGF reported disappointing F3Q results, but did not lower the 3-yr guide (EBITDA $1.1-$1.2B) - acknowledged tracking below plan. Mgmt. may have been better served to reset the bar to $1.0B-$1.1B, but given the reaction in the stock, our hope is that it won't serve as an overhang. At 8x our F17E EBITDA (JEFe: $410M), we see favorable risk/reward for a pure play in the content space with secular tailwinds."

For an analyst ratings summary and ratings history on Lions Gate click here. For more ratings news on Lions Gate click here.

Shares of Lions Gate closed at $18.53 yesterday.

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