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Lionsgate Studios initiated with a Hold at TD Cowen

TD Cowen initiated coverage of Lionsgate Studios (LION) with a Hold rating and $8 price target Lionsgate is a pure-play content asset with scarcity value but has “somewhat limited” growth prospects, the analyst tells investors in a research note. TD thinks the company will eventually be acquired, but says that with the industry currently in the mode of trying to do more with less, it does not see a takeout as a likely outcome in the next 12 months. The firm has a hard time coming up with a Buy thesis right now given the challenging economics for non-franchise films in the current environment.

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