UPDATE: JP Morgan Lowers PT to $7 on Bona Film Group
JP Morgan cuts its price target $1 to $7 on Overweight-rated Bona Film Group (NASDAQ: BONA) as its top titles are now scheduled for the latter half of 2012.
JP Morgan says, "Reshuffle of 2012 Slate: 1) A Simple Life, a well-acclaimed artistic film starring Andy Lau, was brought up earlier to Mar from Apr. 2) Three Musketeers was delayed to be on May 1. 3) The Grandmaster from Wong KarWai and Once Upon a Time in Shanghai starring Chow Yun-fat were pushed back to Dec '12, with some originally planned titles to be delayed into 2013."
BONA closed at $5.16 a share on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.