Zacks Investment Research upgraded shares of Lions Gate Entertainment Co. Class A Voting Shares (NASDAQ:LGF.A) from a hold rating to a buy rating in a research report report published on Tuesday. The brokerage currently has $31.00 price target on the stock.
According to Zacks, “Although Lions Gate has underperformed the industry over the past six months, the stock might take a turn around in the near term as the Zacks Consensus Estimate for fiscal 2017 has risen in the past 7 days. The company remains confident about its lineup of movies. Moreover, in an effort to enhance its competitive position, maximize return and build a diversified portfolio, Lions Gate has been making strategic investments and buyouts, such as that of Starz. The addition of Starz will aid the company to become a major player in the TV space and also help it to regain its lost ground in streaming network. The motion picture industry is highly competitive, and Lions Gate has to continually strive to maintain their share of box office receipts. Moreover, the escalating cost of motion picture production and marketing in recent years may jeopardize the company’s margins.”
A number of other research analysts have also issued reports on the company. B. Riley reiterated a buy rating and issued a $36.00 target price on shares of Lions Gate Entertainment Co. Class A Voting Shares in a report on Wednesday, January 11th. Macquarie reiterated a buy rating and issued a $33.00 target price on shares of Lions Gate Entertainment Co. Class A Voting Shares in a report on Monday, February 6th. Loop Capital reiterated a buy rating and issued a $31.00 target price on shares of Lions Gate Entertainment Co. Class A Voting Shares in a report on Thursday, February 2nd. Finally, Sanford C. Bernstein upgraded Lions Gate Entertainment Co. Class A Voting Shares from a market perform rating to an outperform rating in a report on Tuesday, January 17th. Five investment analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of $32.75.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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