Liberty Looks Ripe For Making Deals

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Stifel, Nicolaus & Co. Inc. cable analyst Ted Henderson initiated coverage of Liberty Media Corp. with a "buy" rating and a $17 price target, citing the company's strong cash position, its diverse media assets and its strong track record in cutting deals. In his report, Henderson said that Liberty's $2 billion in cash make it a prime candidate to snap up several ripe targets, including DirecTV Inc., Vivendi Universal Entertainment and VUE's USA Networks unit. "We love the concept of investing with [Liberty chairman] John Malone when the content and distribution landscape can best be described as a smoky battlefield ripe for deals," Henderson wrote.

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