Zacks Investment Research upgraded shares of Liberty Media Corporation (LMCA) from UNDERPERFORM to NEUTRAL on March 25, 2014, with a target price of $140.00.
We upgrade our recommendation on Liberty Media to Neutral from Underperform based on its improved fourth-quarter 2013 financial results. The company reported mixed financial results as the bottom line surpassed the Zacks Consensus Estimate but the top line missed the same. Liberty Media is steadily restructuring its business model, targeting to control several subscription-based businesses. The company has started providing cable TV services and management is striving to consolidate its foothold in the pay-TV market. Liberty Media also affirmed its outlook for 2014. However, failing to acquire Time Warner Cable was a temporary blow to gain strong traction in the U.S. cable industry. Moreover, the company dropped its plans to gain complete control of Sirius XM. Meanwhile, the stock price has soared 28% in the last one year.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Liberty Media Corporation (LMCA),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment