UPDATE: Wedbush Raises Carmike Cinemas' PT
According to a research report published this morning, Wedbush has increased Carmike Cinemas' (NASDAQ: CKEC) PT from $17 to $19.
In the report, Wedbush commented, "In Q1, Carmike achieved growth in attendance per average screen (our proxy for box office growth) of 34.0% compared to the industry average of 23.6% (according to boxofficemojo.com). This is the fourth consecutive quarter of outperformance in attendance compared to the industry average. Revenue was $131 million, compared with our estimate of $128 million, and the consensus estimate of $121 million. Adjusted EPS was $0.36, compared with our estimate of $(0.02), and the consensus estimate of $(0.03)."
Wedbush maintains its Outperform rating on Carmike Cinemas, which is currently trading at $14.75.
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