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Fly News Breaks for July 1, 2016
STRZA, LGF
Jul 1, 2016 | 07:44 EDT
FBR Capital analyst Barton Crockett raised his price target for Lionsgate (LGF) to $25 following the company's acquisition of Starz (STRZA). The announcement yesterday was "pretty close to expectations and that has been telegraphed for nearly a year," Crockett tells investors in a research note. The acquisition gives Lionsgate a steady cash flow stream from Starz's channels to balance out the volatility and unpredictability of its movie production, the analyst contends. Crockett he has an Outperform rating on Lionsgate.
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