Topeka Capital Upgrades Regal Entertainment (RGC) to Buy; Analyst Says Move Slate Looks 'Fantastic'
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Rating Summary:
5 Buy, 15 Hold, 2 Sell
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Today's Overall Ratings:
Up: 9 | Down: 10 | New: 43
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Topeka Capital upgraded Regal Entertainment (NYSE: RGC) from Hold to Buy with a price target of $23.00 (from $19). Analyst David W. Miller said the company's.2015 move slate looks fantastic.
"We are upgrading RGC from Hold to Buy and aligning our rating to that of little-sister comparable Cinemark (CNK-Buy: $29.19). The core of this ratings change comes from a quick glance at the 2015 film slate out of the Studio system, and it is simply spectacular. The other reason for the ratings change comes from prognostication of a special dividend, which RGC has not paid out in a while, and which we anticipate could happen sometime in Q4 of 2014, or 1H of 2015. In tandem with this ratings change, our price target moves to $23.00 from $19.00," said Miller.
For an analyst ratings summary and ratings history on Regal Entertainment click here. For more ratings news on Regal Entertainment click here.
Shares of Regal Entertainment closed at $18.84 yesterday.
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