Thursday, February 23, 2012

Another all-time high for Lionsgate

Lionsgate stock has hit three consecutive all-time levels on bullishness over its youthful-adult franchises "Twilight" and "The Hunger Games," the 2nd which set a preliminary-day advance ticket sales record Thursday on Fandango. The issue rose 3% Thursday, getting 35 to $12.90 following 2% hikes in all the previous periods. The business introduced Wednesday it had offered 5 million types of "The Twilight Saga: Breaking Beginning, Part 1" in 11 days. As well as the Fandango ticketing site says first-day advance ticket sales for "The Hunger Games" had already offered out hundreds of showtimes for your March 23 release -- damaging the previous first-day advance ticket-sales record held by "The Twilight Saga: Eclipse" on May 14, 2010. Lionsgate also introduced that Tele Munchen Group had acquired rights to Liongate's approaching sitcom "Anger Managment" for Germany, Austria and German speaking Europe. Analyst David Joyce of Burns Tabak upgraded the stock with a buy and lifted his cost target from $12 to $14 on Wednesday. The stock has hopped 50% since Jan. 13, when Lionsgate completed its $412.5 million utilized buyout of Summit Entertainment. Contact Dork McNary at dork.mcnary@variety.com

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