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UPDATE: Janney Capital Markets Upgrades Regal Entertainment as Near-Term Pain Boosts Long-Term Gain

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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

DateFirmActionFromTo
Oct 2017Morgan StanleyUpgradesUnderweightEqual-Weight
Sep 2017Credit SuisseMaintainsUnderperform
Sep 2017MKM PartnersUpgradesNeutralBuy

View More Analyst Ratings for RGC
View the Latest Analyst Ratings

Posted-In: Janney Capital Markets Tony WibleAnalyst Color Upgrades Analyst Ratings

 

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