Market Overview

UPDATE: Wunderlich Securities Cuts PT to $117 on Liberty Media Corporation on Macro Equity Moves

Related LMCA
Sirius XM Holdings Inc. Boosts Subscriber Growth Outlook 14%
Should You Get Rid of Liberty Media (LMCA) Now? - Tale of the Tape
Liberty Media to Cut Stake in Barnes & Noble (Fox Business)

Wunderlich Securities reiterated its Buy rating on Liberty Media Corporation (NASDAQ: LMCA) but moderated its price target from $123 to $117.

Wunderlich Securities noted, "We are slightly moderating our price target on Buy-rated Liberty Media (LMCA) to $117 from $123 off price movements on public equities and a lower 1400 S&P 500 bogey applied to valuing Starz. We still believe that the hard-spun Liberty Starz could trade above some sum-of-the-parts assessments that are as low as 5.0-5.5x EBITDA target multiples, even if the earlier tracker incarnation generated 9.0x+ target multiples premised on an unrealistic Netflix (NFLXNR) deal. In our view, the crux remains Starz's increasingly appealing original programming pipe, even if 2013 sales growth is slightly stunted by the price rollback prospectively covering 19% of its distribution. A priority is mirroring the breakout success of HBO GO with Starz Play."

Liberty Media Corporation closed at $103.39 on Friday.

Latest Ratings for LMCA

DateFirmActionFromTo
Aug 2014Evercore PartnersUpgradesEqual-weightOverweight
Jul 2014BarclaysMaintainsOverweight
Jul 2014BarclaysMaintainsOverweight

View More Analyst Ratings for LMCA
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesPrice Target Intraday Update Analyst Ratings

 

Related Articles (LMCA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters