UPDATE: Janney Capital Markets Upgrades Regal Entertainment as Near-Term Pain Boosts Long-Term Gain
In a report published Tuesday, Janney Capital Markets analyst Tony Wible upgraded the rating on Regal Entertainment (NYSE: RGC) from Neutral to Buy, and raised the price target from $21.00 to $26.00.
In the report, Janney Capital Markets noted, “We are upgrading RGC and CNK to Buy from Neutral as we see opportunities around the longer term visibility into the 2015 slate, M&A opportunities, and new initiatives. Furthermore, we believe the yields are attractive in the low rate environment and favor exposure to movies over TV given some of the risks in that ecosystem. We introduce our 2015 estimates, which we use to derive a $26 (from $21) and $46 (from $37) fair value for RGC and CNK, respectively.”
Regal Entertainment closed on Monday at $18.47.
Latest Ratings for RGC
|Jul 2014||Ascendiant Capital||Downgrades||Buy||Hold|
|Jul 2014||Raymond James||Maintains||Strong Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.