JPMorgan analyst David Karnovsky lowered the firm’s price target on Lionsgate (LGF.A) to $8 from $9 and keeps an Underweight rating on the shares post the fiscal Q4 report. The analyst thinks there may be “some noise” around the timing for a full separation of Starz and Lionsgate Studios following a bond exchange. A more back-half weighted outlook for OIBDA and free cash flow generation has also weighed on shares, the analyst tells investors in a research note.
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