UPDATE: Deutsche Bank Raises PT on Starz on Remaining Concerns

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Starz

, and raised the price target from $16.00 to $18.00. In the report, Poole noted, “Reaffirm Hold Rating. At 12x ‘13E P/E & 10x FCF investors are discounting that Starz EBITDA and FCF sustain indefinitely, yet we remain concerned re.: 1) increasing SVOD competition and Disney films move to Netflix in '16; 2) MVPDs under increasing cost pressure looking for lower prices from nets like Starz lacking sports, retrans or scale; and 3) the strategy to invest in TV taking yrs to prove out with success uncertain, while we do not see any strategic buyer interest.” Starz closed on Friday at $23.19.