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Stifel Downgrades Regal Entertainment As Sale Process Has Ended

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In a report published Friday, Stifel analyst Benjamin Mogil downgraded the rating on Regal Entertainment Group (NYSE: RGC) from Buy to Hold, but reiterated the $23.00 price target.

In the report, Stifel noted, “We are moving to a Hold rating following Regal's announcement that it had ended its sale process. Our valuation remains unchanged, and the rating is driven as valuation nears that level and the M&A uptick possibility abates. Operational fundamentals now fall back into focus and we suspect that the company's bias on the dividend front will be towards an increase in the regular rate, which is more rewarded by shareholders than special dividends.”

Regal Entertainment closed on Thursday at $21.09.

Latest Ratings for RGC

DateFirmActionFromTo
Jan 2018B. Riley FBRDowngradesBuyNeutral
Dec 2017MacquarieDowngradesOutperformNeutral
Dec 2017Moffett NathansonUpgradesSellNeutral

View More Analyst Ratings for RGC
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Posted-In: Benjamin Mogil StifelAnalyst Color Downgrades Analyst Ratings

 

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