Wedbush Reiterates Outperform Rating, $19 PT on Carmike Cinemas on Raised Q4 Estimates

In a report published Monday, Wedbush reiterated its Outperform rating and $19.00 price target on Carmike Cinemas

. Wedbush noted, “Our 2013 estimates may prove far too conservative, should Carmike continue to progress toward its goal of 3,000 screens. We think growth is likely, given favorable conditions for accretive acquisitions and organic growth prospects. Additionally, we think that the Screenvision stake could contribute considerably more than our $3 million estimate for 2013. As there is ≈ 20% upside to our price target, we recommend that investors accumulate shares of CKEC.” Carmike Cinemas closed on Friday at $15.78.