The stock is up about 4% in mid-afternoon trading after Piper Jaffray’s James Marsh raised his price target for Lionsgate this morning by 18.5% to $32 ahead of the studio’s financial report next week for the quarter that ended in March. The analyst says that investors may be impressed by DVD and VOD sales for Twilight, which he figures generated about $150M in revenues for the quarter. In addition The Impossible, a film about the Indian Ocean tsunami in 2004, “largely slipped under the radar,” grossing just $19M at domestic theaters but $154M overseas. He expects Lionsgate’s TV operation to impress with results from Mad Men, Anger Management, and Nashville. Looking ahead, Marsh says that he’s “comfortable that management will find a way to extend the Twilight franchise” while Hunger Games could could do better than expected “driven by international box office and high margin merchandising opportunities.” On Monday Stifel’s Benjamin Mogil also upped his price target, in his case by 16% to $29. He says Lionsgate is “tracking materially ahead” of its financial guidance.
Lionsgate Shares Rise On Growing Optimism About Earnings Report
What's Hot on Deadline
SAG Awards: 'Three Billboards Outside Ebbing, Missouri' Wins For Film Ensemble - Complete Winners List
SAG Awards Analysis: 'Three Billboards' Rebounds From PGA Loss, But Oscar Race Still Too Close To Call; NBC's 'This Is Us' Shakes Things Up On TV Side
Jason Blum's Advice To Burgeoning Producers At Sundance: "Don’t Worry About Your Movie Getting A Theatrical Release"
White House Correspondent April Ryan Tells CNN News Organizations Have Police "On Speed Dial" For Death Threats
'Jumanji' At $768M WW Intensity & 4th #1 In A Row Overseas; 'Maze Runner: Death Cure' Debuts - International Box Office
Latest Business News
- TV News Fires Up For Noon Budget Vote On Day 3 Of Government Shutdown
- Wanda Chief Predicts Comeback In 2018 After 10.8% Revenue Drop In 2017
- Philadelphia Eagles Demolish Minnesota Vikings 38-7 In NFC Championship
- New England Patriots Top Jacksonville Jaguars 24-20 in AFC Championship
- Mo’Nique Calls For Netflix Boycott Over Alleged Gender And Race Pay Disparity
- ‘Halfway There’ Trailer Bows, Showcasing Matthew Lillard, Blythe Danner Dysfunction