Raymond James raised the firm’s price target on Starz Entertainment (STRZ) to $22 from $19 and keeps an Outperform rating on the shares. Starz reported a beat in the quarter and in-line calendar OIBDA guidance of $200M, the analyst tells investors in a research note. Raymond James argues that Starz is a “misunderstood” asset with 70% of revenue from digital/streaming, and while the 30% from linear is still a headwind, says exposure is much smaller than at media peers.
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