Yesterday, Discovery & Liberty Global announced that each will take a 3.4% stake in Lions Gate (NYSE: LGF), and Zaslav and Fries will sit on LGF's Board. Jeffries analyst, John Janedis, views the investments positively, as it creates opportunities for many strategic partnerships since DISCA, STRZA and LBTYK all serve as distribution channels.

LGF lowered its 3-yr guidance from "the low end of $1.2-1.3B" to $1.1-1.2B driven by weaker than expected performance from American Ultra/ The Last Witch Hunter, as well a shift of some F17 films to '18 (no details on which films).

Mockingjay will open in theaters on Nov. 20th. Expectations for the film are high; we est. this film's opening weekend will be the biggest of the franchise (JEFe: $125M in domestic BO).

LGF announced several new IP acq plans including a TV series from Twilight's author, The Kingkiller Chronicle (fantasy book series) which it hopes to carry across Film, TV and Gaming.

Jeffries reduced FY16 EBITDA to $338M from $396M, and FY17 to $419M from $476M, bringing the 3-yr period to $1.14B. Despite the reduction in estimates, the firm reiterated a Buy rating and raised the PT to $44 (from $42) to reflect a higher multiple.

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 $39.83 yesterday.