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  • ezalldee ezalldee Aug 17, 2012 7:53 AM Flag

    Pivotal Research Reiterates a 'Buy' on Liberty Media (LMCA); Share Price Worth Up To $141

    Pivotal Research Reiterates a 'Buy' on Liberty Media (LMCA); Share Price Worth Up To $141
    3:24 PM ET, 08/16/2012 - Street Insider
    Pivotal Research reiterates a 'Buy' on Liberty Media (NASDAQ: LMCA) price target of $126.00 (from $118.00).

    Analyst, Jeffrey Wlodarczak, said, "LMCA shares continue to appear attractive as: 1) a less expensive way to play BUY rated Sirius (Nasdaq: SIRI) sitting alongside the effective controlling shareholder, 2) we believe a Reverse Morris Trust (RMT) merger between SIRI and Liberty's SIRI stake is inevitable which should benefit both SIRI and LMCA shareholders in a transaction similar to LMDIA/DTV's merger, 3) Starz should receive a premium valuation as a stand-alone company and we believe this move is a precursor to the medium to long-term sale of the company, 4) potential for accelerated accretive share repurchases given LMCA's sizeable liquidity position [and Liberty management has had a great run over the last 5 years] and 6) LMCA still trades at an approximate ~21% discount to its mostly public traded assets."

    Wlodarczak actually said the shares of LMCA could actually be worth $141 if SIRI reaches $3.00 YE '13 target; Starz is worth 5x '13 EBITDA; Value of other public company stakes go up; Values rise in public companies owned; and reasonable taxes.

    For an analyst ratings summary and ratings history on Liberty Media click here. For more ratings news on Liberty Media click here.

    Shares of Liberty Media closed at $100.28 yesterday, with a 52 week range of $72.70-$104.34. Rating :
    (7 Ratings)

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