Variety reports that one industry analyst predicts Catching Fire will gross $900 million worldwide. This is also boosting Lionsgate's stock to an all time high.
Piper Jaffray said Tuesday it recommended the stock as its favorite mid-cap name in 2013 and singled out Catching Fire, due out Nov. 22.
“While the second Hunger Games film is an obvious catalyst, we see a number of other interesting initiatives across the company that will drive value,” analyst James Marsh wrote. “The film release slate is looking deeper (Red 2, Ender’s Game, Divergent), we like the odds of a Twilight extension, and international distribution deal economics are improving.
David Miller of BRiley & Co. issued a similarly bullish report and repeated his $34 target, predicting that Catching Fire will gross $900 million worldwide. That’s 22% above the $691 million gross for The Hunger Games, will Miller noting that the popularity of the Hunger Games book trilogy has “exploded” overseas since last year’s release of the first film.
Read more at Variety