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Fly News Breaks for June 7, 2016
LGF
Jun 7, 2016 | 06:34 EDT
Piper Jaffray analyst Stan Meyers expects this weekend's opening of Lionsgate Entertainment's Now You See Me 2 to be in the $20M-$25M range domestically, below the latest tracking of $25M-$29M. The analyst estimates the film will likely gross $75M-$80M on a full run basis. He believes it needs to gross $51M in domestic box office to break-even. The "current distressed state" of shares provides an attractive entry point, Meyers tells investors in a research note. He keeps an Overweight rating on Lionsgate with a $30 price target.
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