UPDATE: Wedbush Securities Reiterates Neutral Rating, Raises PT on Regal Entertainment Group
In a report published Friday, Wedbush Securities reiterated its Neutral rating on Regal Entertainment Group (NYSE: RGC), and slightly raised its price target from $15.00 to $16.00.
Wedbush Securities noted, “Q4 quarter-to-date box office is trending up 18%. October was up 10%, led by Taken 2, and November month-to-date is up 24% due to new releases Skyfall and the final Twilight film. The coming weekend may be relatively weak due to a dearth of new releases, but December should be in line with our raised estimates as The Hobbit compares positively to last year's Sherlock Holmes: A Game of Shadows. With that said, our estimate assumes some deceleration in December.”
Regal Entertainment Group closed on Thursday at $15.82.
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