Liberty Media (LCAPA) has been upgraded today by the securities research analysts at investment firm Deutsche Bank which heightened Liberty Media from a “hold” rating to “buy.” Deutsche Bank substantially raised their performance outlook for Liberty Media and adjusted their price target from $68 to $100 dollars. The bank noted that a portion of their upgraded outlook for LCAPA is due to a SIRI monetization transaction that is currently clouded with disagreement is expected to disperse.
LCAPA gapped up at the beginning of trading today, however, shares did refill the majority of the void in price comparative to Wednesday’s trading range. Still, even the brief retrace was not enough to prevent LCAPA from making strong headway north which is a continued welcome change of pace from when shares of the company endured a lengthy bearish retreat after reaching $92.55 on May 31st, 2011. LCAPA would reach $87.57 during intraday trading before closing at $85.75.
Liberty Media Corporation owns interests in subsidiaries and other companies which are engaged in the video and on-line commerce, media, communications and entertainment industries. The company has market capitalization of $6,365,822,750 and 74,237,000 shares outstanding. LCAPA has a 52-week high of the aforementioned $92.55 with the low being $40.42 dollars.
