Lions Gate Entertainment Corp. (LGF) Continues To Progress

Cowen and Company COWN has released an update on Lions Gate Entertainment Corp. LGF. Cowen and Company has revised estimates for the company. Cowen has lowered FY10 adjusted EBITDA estimate from $114 million to $107 million. The estimate has been lowered due to the write down on the recent release of “From Paris With Love.” The adjusted EBITDA for FY11 has been increased to reflect the target set by management at Lions Gate of $500 million in domestic box office for the film slate. According to Cowen, the company has faces some near-term uncertainties due to EPIX, and a potential M& A. However, Cowen believes that the company will be able to resolve both issues positively. Cowen and Company expects the Lions Gate Entertainment Corp. shares to generate strong returns relative to the market over the next 12 months. Cowen has maintained an Outperform (1) rating for the company.