UPDATE: Piper Jaffray Raises Carmike Cinemas' PT

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In a research report published today by Piper Jaffray, Carmike Cinemas Inc. (NASDAQ: CKEC) reported strong 4Q results, prompting a PT raise from $10 to $14.According to Piper Jaffray, “We believe CKEC, as a domestic pure play, is well positioned to benefit from the turnaround of the box office trends in 2012. We see upward earnings revisions and reasonable valuation supporting higher stock price. In addition, as CKEC adjusts its capital structure in 2H12, we see the company growing its market share both organically and through acquisitions. We are maintaining our Overweight rating and raising our price target from $10 to $14.”Carmike Cinemas closed yesterday at $9.10.

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