Lionsgate Stock Hits New Record Amid 'Hunger Games' Anticipation
TORONTO -- Lionsgate stock hit another all-time high Friday as analysts continue to boost their share price targets on the ministudio’s movie pipeline.
Lionsgate saw its stock touch $32.50 in morning trading on the New York Stock Exchange, up 71 cents or 2 percent from Thursday’s close.
The steady 125 percent climb in Lionsgate shares in the last year came as media analysts at Stifel Nicolaus on Thursday raised their price target to $35.00, from $31.00, while maintaining a buy rating.
Lionsgate, which has a market cap of $4.21 billion, has seen its shares rise on expectations for its movie pipeline, which includes the Twilight and Hunger Games franchises.
On the TV side, the Lionsgate series Orange Is the New Black has also bowed on Netflix this month.
Lionsgate’s stock began its meteoric rise in October 2011 after senior management at the Vancouver-based company fended off billionaire investor Carl Icahn.