NEW YORK () -- Lions Gate Entertainment () stock rating was cut to "market perform" from "outperform" at Bernstein on Thursday, the Fly reports.
The firm also reduced its price target to $22 from $34 on shares of the Santa Monica, CA-based entertainment company.
The lower rating and price target are due to concerns over the company's proposed of media and entertainment company Starz (STRZA).
Bernstein believes the deal will expose the studio to the part of the entertainment market that is "in structural decline," the Fly noted.
Over time, a growing...
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