Marcus Corp. (MCS) PT Raised to $45 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on Marcus Corp. (NYSE: MCS) to $45.00 (from $40.00) while maintaining a Buy rating following the company's 4Q report. Sales were $113M (Benchmark: $105M) or up 6.5% y/y; admissions and concessions sales were up 1% and 8%, respectively.
On 02/01, MCS completed the acquisition of the Movie Tavern circuit, adding 22 theaters over 208 screens and expanding their network by 23%. For fiscal 2018, Movie Tavern generated an estimated $145M to $150M in sales over a 10% to 15% EBITDA margin.
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