Reading International (RDI) PT Raised to $2.40 at Macquarie, 'believe there is still hidden value if RDI can execute'

Macquarie analyst Chad Beynon raised the price target on Reading International (NASDAQ: RDI) to $2.40 (from $2.00) while maintaining a Neutral rating.

The analyst commented: "RDI remains a micro-cap theater/real estate story that has been crunched by declining industry trends. The company has sold several non-core assets to pay down debt and the balance sheet is in a better position. That said, we believe there is still hidden value if RDI can execute. Maintain Neutral, TP $2.40 (+20% or +$0.40)."

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