Jesup & Lamont Initiates Coverage of CEC Entertainment (CEC) with a Buy; Most Suitable for Value-Oriented Investors
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Jesup & Lamont initiates coverage of CEC Entertainment (NYSE: CEC) with a Buy rating, price target $33
Jesup analyst says, "We believe the shares are most suitable for value-oriented investors seeking strong free cash flows at a reasonable price. The growing incidence of H1N1 Flu could pose a traffic risk to CEC in the 2H09 as the company’s business caters to parents with younger children. However, since the company first discussed the “swine flu” risk on its business on April 30, CEC shares have underperformed the S&P 500 by 39%. We would encourage investors with longer investment horizons to take advantage of the current “swine flu” discount."
CEC Entertainment, Inc., together with its subsidiaries, develops, operates, and franchises family dining and entertainment centers under the name Chuck E. Cheeses in the United States and internationally.
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