Canaccord Genuity Maintains a 'Buy' on Liberty Media (LMCA); Taking SIRI On A Spin
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Price: $30.10 --0%
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Liberty Media (NASDAQ: LMCA) price target of $101.00.
Analyst, Thomas Eagan, said, "We think negotiations will soon accelerate between Sirius (Nadaq: SIRI) and Liberty regarding the control of SIRI. With LMCA’s 45% stake and the current SIRI price, we estimate LMCA only needs to contribute $94mm into a Newco to reach 50.1% (of the Newco) and comply with Reverse Morris Trust (RMT)...This translates to just 1% of SIRI shares. The question that remains is, does LMCA need to buy the additional 5% of SIRI to gain control? Instead, LMCA may be able to negotiate with SIRI to gain control with just an additional 1-2%."
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 $86.02 yesterday.
Analyst, Thomas Eagan, said, "We think negotiations will soon accelerate between Sirius (Nadaq: SIRI) and Liberty regarding the control of SIRI. With LMCA’s 45% stake and the current SIRI price, we estimate LMCA only needs to contribute $94mm into a Newco to reach 50.1% (of the Newco) and comply with Reverse Morris Trust (RMT)...This translates to just 1% of SIRI shares. The question that remains is, does LMCA need to buy the additional 5% of SIRI to gain control? Instead, LMCA may be able to negotiate with SIRI to gain control with just an additional 1-2%."
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 $86.02 yesterday.
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