Wedbush Upgrades Regal Entertainment (RGC) to Outperform

Wedbush upgraded Regal Entertainment (NYSE: RGC) from Neutral to Outperform with a price target of $25.00 on attractive valuation.

Analyst Michael Pachter commented, "Our price target is based on a NTM 9.0x EV/adjusted EBITDA multiple, and we are upgrading based on valuation, as Regal shares have underperformed its peers’ shares year-to-date. Regal appears to have put in place several initiatives that will allow it to maintain market share vis-à- vis its peers, and we believe it deserves to be valued at a peer multiple."

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 $19.82 yesterday.

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