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.
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