UPDATE: Piper Jaffray Raises PT to $20 on Lionsgate Entertainment
Piper Jaffray maintains its Overweight rating on Lionsgate Entertainment (NYSE: LGF) and raises its price target $6 to $20 on higher Hunger Games estimates.
Piper jaffray says, "Hunger Games expectations raised once again - DBO goes from $180M to $225M, up 25%. We are also adding $75M in international 'overages' for the first film. Hunger Games profits go from $182M to $290M. Importantly the franchise profits go from $900M to $1,409M. Yesterday's NRG tracking data supports our Hunger Games DBO update, with opening box expectations well north of $70M."
LGF closed at $13.79 a share on Thursday.
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