Gabelli & Co Establishes Pro-Forma $97.50 Target on Liberty Media As Shares Switch

Gabelli & Company has a pro-forma PMV of $97.50 on Liberty Media Corporation

as the Capital ticker takes over for Starz

. According to Gabelli, “Today is the last day Liberty trackers will be trading. For every share of LSTZA, shareholders will get .88129 shares of the new co (

). We have a pro-forma PMV of $97.50. Mgmt continues to narrow the discount to NAV by buying back stock. We expect they will likely do a spin merge with SIRI. We would not rule out that they would spin Starz again." LCAPA traded at 74.59 per share on Friday.