UPDATE: Stifel Nicolaus Cuts PT to $17 on Lions Gate Entertainment

Stifel Nicolaus cuts its target price on Lions Gate Entertainment LGF from $19 to $17 as it reiterates its rating at Buy. Stifel Nicolaus elaborates, "While Lions Gate stock has returned to pre-Hunger Games levels, we believe that there are a number of near-term catalysts which should provide support going forward. We see catalysts ranging from the home entertainment performance of "Hunger Games" to the new Charlie Sheen show to anticipation for the last Twilight installment. At current valuation, we believe that the market is largely discounting the value of the Summit acquisition while also applying a discounted value to the "Hunger Games" franchise. Similarly, concerns over insider sales have been for naught and a possible push-back of "Catching Fire" due to directorial changes is not material in our view." LGF closed at $12.14 on Tuesday.
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Posted In: Analyst ColorPrice TargetReiterationIntraday UpdateAnalyst RatingsConsumer DiscretionaryMovies & EntertainmentStifel Nicolaus
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