In a report published Friday, Stifel analyst Benjamin Mogil downgraded the rating on Regal Entertainment Group 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 Group closed on Thursday at $21.09.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in