Wells Fargo raised the firm’s price target on Lionsgate Studios (LION) to $12 from $9 and keeps an Overweight rating on the shares. The firm is also raising its Q3 AOIBDA estimate, driven by strength in Motion Pictures. Wells continues to view Lionsgate as an attractive pure-play studio asset that should benefit from industry M&A and improving underlying fundamentals in both MP & TV Production.
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