We Expect Liberty Media Stock To Trade In Line With Its Entertainment Peers - JP Morgan Comments
(RealTimeTraders.com) - Tuesday morning, JP Morgan initiated coverage of Liberty Media Corp. (L) with a Neutral rating. Analyst Spencer Wang Liberty is trading at an 18% discount to its net asset value, in line with its historical discount.
Noting that only on very rare occasions has Liberty achieved parity with its NAV, the brokerage expects Liberty's discount to NAV to be sustained in the intermediate term given its view that there do not appear to be major, imminent catalysts. As a result, the brokerage expects the Liberty stock to trade in line with its entertainment peers.
Currently, the stock is up $0.24 and trading at $11.47.
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