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Fly News Breaks for February 11, 2019
LGF.A
Feb 11, 2019 | 06:59 EDT
Barrington analyst James Goss lowered his price target for Lionsgate to $21 and keeps an Outperform rating on the shares. The company's content investments have been important in "dramatically" reducing churn following the conclusion of its premiere series Power, Goss tells investors in a research note. This, along with promotional efforts, enabled subscriber levels to remain sequentially flat in Q3, compared to a 500,000 sequential decline in the year-ago period, the analyst points out. His new price target reflects a target multiple of about 10 times his fiscal 2020 OIBDA estimates.
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