UPDATE: Stifel Nicolaus Increases Target to $15 on Lions Gate Entertainment
Stifel Nicolaus raises its price target on Buy-rated Lions Gate Entertainment (NYSE: LGF) to $15, up $2.50, on upwardly revised box office numbers.
Stifel Nicolaus says, "We are increasing our domestic box office for "Hunger Games" from $150mn to $250mn. While NRG tracking will not be out until next week, other tracking sources continue to point to strengthening awareness/interest for the film in the $100mn opening weekend range, which would denote a conservative $250mn domestic box office. That, coupled with Fandango's announcement that advance sales broke all records on their system and IMAX's positive comments on their earnings call about the film, support our increased expectations."
LGF closed at $12.90 a share yesterday.
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