Piper Jaffray & Co. Initiates Coverage on Carmike Cinemas (CKEC) with a Buy
More News related to CKEC
- The Lightstone Group Goes to the Movies
- Unusual 11 Mid-Day Movers 11/03: LNY, BNI, DDRX, BDK Higher; CKEC, TPGI, CHTP, CMLS Lower
- Morning Movers 10/03: BNI, DDRX, BDK, AIMC, RTEC, MEDW Higher; CKEC, TPGI, IBCP, NSTC, CMLS, HEB Lower
- Carmike Cinemas (CKEC) Reports Q3 Loss of $1.62
- Carmike Cinemas Reports Q3 Revenue of $122.4 Million and Operating Loss of $12.9 Million, After Recording a $17.2 Million Non-Cash Impairment Charge
More News related to New Coverage
- Sidoti & Co Initiates Coverage on Stratasys (SSYS) with a Neutral
- ThinkEquity Initiates Coverage on Sourcefire (FIRE) with a Buy
- Raymond James Initiates Coverage on Knight Capital (NITE) with a Market Perform
- Raymond James Initiates Coverage on International Game Technology (IGT) with a Market Perform
- Thomas Weisel Initiates Coverage on UQM Technologies (UQM) with an Overweight
Piper Jaffray & Co. initiates coverage on Carmike Cinemas (Nasdaq: CKEC) with a Buy. Price target $6.
Piper analyst says, "We are initiating Carmike Cinemas with a Buy rating and $6 PT based on an attractive risk/reward profile and catalysts related to digital/3-G upgrades. As a leader in the transition to digital and 3-D technology, we expect Carmike to see increased, higher-margin revenue generating opportunities. We believe 3-D will help drive theatre attendance and ticket price increases of 3.5% and 5%, respectively...While a potential dividend cut, combined with the company's high leverage and investor confusion over the company's senior secured credit facilities covenants, could cause near-term volatility in the shares, in the long-run we believe the company's improved fiscal oversight and solid market visibility will enable it to manage its balance sheet effectively."
Carmike Cinemas, Inc. is a motion picture exhibitor in the United States. As of December 31, 2007, it owned, operated or had an interest in 264 theatres with 2,349 screens located in 36 states.
Related Categories
New CoverageStocks Mentioned
+0.12Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
