UPDATE: Goldman Sachs Initiates Lions Gate Entertainment at Neutral on Valuation
Goldman Sachs initiated coverage on Lions Gate Entertainment (NYSE: LGF) with a Neutral rating and an $18 price target.
Goldman Sachs noted, "The recent acquisition of Summit (Twilight films) and the still unfolding Hunger Games franchise (3 films to go) position LGF to deliver a steady stream of FCF that will likely be used to delever and enhance equity appreciation. This point is not lost on the market, with the stock up 92% CYTD and at 10% premium to historic EBITDA multiple and a 35% premium to media conglomerates. We will look for a better entry point and more clarity on the potential for new film franchises to emerge."
Lions Gate Entertainment closed at $15.97 on Wednesday.
Latest Ratings for LGF
|Sep 2016||Brean Capital||Initiates Coverage on||Buy|
|Aug 2016||Loop Capital||Initiates Coverage on||Buy|
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