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Fly News Breaks for June 7, 2016
LMCA
Jun 7, 2016 | 16:35 EDT
Deutsche Bank analyst Bryan Kraft downgraded Liberty Media (LMCA) to Hold saying the recent restructuring into three tracking stock resulting in the rating change. Kraft said Liberty Media trades at a 30% discount to net asset value, but expects it to remain that way as management will focus its time and efforts on decreasing Liberty Sirius' (LSXMA) net asset value discount. The analyst has a $23 price target on Liberty Media shares.
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