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Fly News Breaks for June 17, 2016
STRZA
Jun 17, 2016 | 07:37 EDT
Macquarie analyst Amy Yong upgraded Starz (STRZA) to Outperform with a $30 price target on shares. Ever since the February 2015, when the Starz swap with Lionsgate (LGF) was made, shares have been approximately 87% correlated to Lionsgate, as investors anticipate a deal. the analyst wrote in a note. Although a deal is logical, Yong expects shares to uncouple given strengthening fundamentals as Originals show further signs of successt, a bottoming multiple, and M&A optionality.
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