Canaccord Genuity Maintains a 'Buy' on Liberty Media (LMCA); More Compelling Case as SIRI Shares Rise

Canaccord Genuity maintains a 'Buy' on Liberty Media (NASDAQ: LMCA) price target of $101.00.

Analyst, Thomas Eagan, said, "With Sirius (Nasdaq: SIRI) up 11%, double the 5% LMCA gain since June 28, the discount to the LMCA NAV has increased from 17.5% to 18.3%. To us, this makes the investment case for LMCA all the more compelling. More specifically, we still believe that LMCA has the negotiating leverage to take control of SIRI (without paying a premium) and subsequently merge its stake in SIRI with SIRI itself. We expect this merger is one of several catalysts that will serve to reduce the 18% discount. Other catalysts include selling nonstrategic public holdings and repurchasing shares."

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 $91.35 yesterday.

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