Citigroup analyst Jason Bazinet today initiated coverage on Lionsgate Studios (NASDAQ:LION) with a Buy rating and announced a price target of $14. Shares last traded today at $8.23.
The merger with Screaming Eagle Acquisition, completed earlier this month, spins off the Lionsgate Studio business from Starz. The deal was valued at $4.6 billion at announcement in December.
The merger positions the standalone Lionsgate Studios as a platform-agnostic, pure play content company with a deep portfolio of franchise properties including The Hunger Games, John Wick, The Twilight Saga and Ghosts, a robust film and television production and distribution business, a leading talent management and production company and a deep film and television library. Read more.
