tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Benchmark starts Lionsgate Studios at Buy after spinoff

As previously reported, Benchmark analyst Matthew Harrigan initiated coverage of Lionsgate Studios (LION) with a Buy rating and $8.50 price target, telling investors that the firm is “familiar with the business” after having followed it for over two decades when housed within former Lions Gate Entertainment prior to the Starz Entertainment (STRZ) spinoff that was completed in May. Lionsgate is “a top indie Motion Picture and Television producer” with a library that generated about $950M in high margin predictable sales for its most recently concluded fiscal year, notes the analyst, who thinks any eventual takeout by Legendary or “another well capitalized opportunistic acquiror” could occur at a higher price.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1