UPDATE: Morgan Stanley Downgrades Liberty Media Interactive to Equal-Weight; Value Gap Narrowed
Morgan Stanley reduced its rating on Liberty Media Interactive (NASDAQ: LINTA) from Overweight to Equal-weight rating and suspended its price target, previously at $19.51.
Morgan Stanley noted, "Following the creation of the Liberty Ventures tracking stock and outperformance of LINTA shares, we are downgrading. While we continue to believe that QVC is likely undervalued, the value gap has closed and we see few easily predictable catalysts for it to close further."
Liberty Interactive Group closed at $17.89 on Thursday.
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