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CNK

Cinemark

$34.12

-0.4 (-1.16%)

, RGC

Regal Entertainment

$14.62

-0.5 (-3.31%)

08:42
08/22/17
08/22
08:42
08/22/17
08:42

Cinemark, Regal price targets lowered on Q3 box office estimate cut at JPMorgan

JPMorgan analyst Julia Yue said she believes the premium video on demand, or PVOD, threat to movie theater owners is greater following the recent Bloomberg article suggesting certain studios could move forward without exhibitor consent and thinks this issue will likely remain an overhang for the foreseeable future. The analyst, who lowered her Q3 domestic industry box office estimate to down 18% year-over-year from a prior forecast of down 10%, cut her price target on Cinemark (CNK) to $42 from $47 and lowered her target on Regal Entertainment (RGC) to $16 from $23.

CNK

Cinemark

$34.12

-0.4 (-1.16%)

RGC

Regal Entertainment

$14.62

-0.5 (-3.31%)

  • 27

    Sep

CNK Cinemark
$34.12

-0.4 (-1.16%)

08/11/17
PIPR
08/11/17
INITIATION
Target $44
PIPR
Overweight
Cinemark initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Stan Meyers started Cinemark Holdings with an Overweight rating and $44 price target. The company is well positioned in the broader exhibition space domestically and should benefit from its exposure to Latin American exposure, the analyst contends.
07/26/17
WEDB
07/26/17
UPGRADE
WEDB
Outperform
Cinemark upgraded on growth outlook, valuation at Wedbush
As noted earlier, Wedbush upgraded Cinemark to Outperform from Neutral. The firm thinks that the company has several positive growth catalysts, including "an expanding domestic and international footprint,theater upgrades, positive currency trends," and better box office trends. It believes that the stock has reached "a compelling entry point" after a recent pullback. Target $44.
07/26/17
WEDB
07/26/17
UPGRADE
WEDB
Outperform
Cinemark upgraded to Outperform from Neutral at Wedbush
06/22/17
FBCO
06/22/17
DOWNGRADE
Target $34
FBCO
Underperform
Cinemark downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Omar Shikh downgraded Cinemark to Underperform and cut its price target to $34 from $38 saying he sees multiple compression ahead. Sheikh said Q2 US box office has been weaker than expected and continues to forecast zero US box office growth in 2017, versus consensus of 2%-4% growth. Further, he believes exhibitors have less leverage over studios and expects studios to push hard for premium VOD rentals, which will reduce industry profitability.
RGC Regal Entertainment
$14.62

-0.5 (-3.31%)

06/12/17
MOFT
06/12/17
DOWNGRADE
MOFT
Sell
Regal Entertainment downgraded to Sell from Neutral at MoffettNathanson
05/18/17
HDLY
05/18/17
UPGRADE
HDLY
Long-Term Buy
Regal Entertainment upgraded to Long-Term Buy on valuation at Hilliard Lyons
Hilliard Lyons analyst Jeffrey Thomison upgraded Regal Entertainment to Long-Term Buy from Neutral with a $26 price target citing the recent pullback in shares and said fundamentals are strong.
05/16/17
05/16/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. AIG (AIG) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Kai Pan citing the "strong" new Chief Executive Officer and attractive valuation. 2. Yum! Brands (YUM) upgraded to Buy from Hold at Argus with analyst John Staszak citing the company's decision to refranchise an additional 5% of its stores and institute additional cost cutting measures as reasons for the upgrade. 3. Dr Pepper Snapple (DPS) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Dara Mohsenian saying the company's organic sales growth is accelerating driven by an improved competitive outlook as Coca Cola (KO) and Pepsi (PEP) focus on using cash flow from the U.S. carbonated soft drink segment in high growth areas. 4. Regal Entertainment (RGC) upgraded to Buy from Hold at Loop Capital with analyst David Millerciting recent weakness in shares and has confidence the company will pay a special dividend to shareholders around the fourth quarter or in the first half of 2018. 5. Vipshop (VIPS) upgraded to Overweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/17
LOOP
05/16/17
UPGRADE
Target $25
LOOP
Buy
Regal Entertainment upgraded to Buy from Hold at Loop Capital
Loop Capital analyst David Miller upgraded Regal Entertainment to Buy from Hold and increased its price target to $25 from $23. The analyst recommends taking advantage of recent weakness in shares and has confidence the company will pay a special dividend to shareholders around Q4 or in 1H 2018. The analyst said Regal pays a special dividend on average every two years and has not paid once since December 2014. Miller would not be surprised if the dividend is of the magnitude of a $1.00/share given current cash levels and free cash flow generation.

TODAY'S FREE FLY STORIES

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AVEVF

Aveva

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ZLAB

Zai Lab

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OHI

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F

Ford

$11.72

0.09 (0.77%)

18:30
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Periodicals
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FDX

FedEx

$216.00

0.92 (0.43%)

18:26
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FedEx says without cyberattack FY18 guidance would not have changed »

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EE

El Paso Electric

$54.85

0.05 (0.09%)

18:25
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Hot Stocks
El Paso Electric announces City of El Paso approved settlement terms »

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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

18:17
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Hot Stocks
Bed Bath & Beyond says biggest component in drop of FY17 EPS view is operations »

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  • 19

    Sep

CPRT

Copart

$32.54

-0.32 (-0.97%)

18:11
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Earnings
Copart reports Q4 EPS 30c, consensus 29c »

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  • 20

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STLD

Steel Dynamics

$33.83

0.03 (0.09%)

18:04
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Earnings
Steel Dynamics sees Q3 adjusted EPS 63c-67c, consensus 70c »

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XBKS

Xenith Bankshares

$29.96

0.42 (1.42%)

17:58
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Hot Stocks
Treasury exits stake in Xenith Bankshares »

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BMY

Bristol-Myers

$62.93

0.23 (0.37%)

17:54
09/19/17
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17:54
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17:54
Periodicals
Breaking Periodicals news story on Bristol-Myers »

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BBBY

Bed Bath & Beyond

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Hot Stocks
Breaking Hot Stocks news story on Bed Bath & Beyond »

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  • 19

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DESP

Despegar.com

17:52
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Despegar.com 12.7M share IPO priced at $26.00 »

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  • 20

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WAC

Walter Investment

$0.65

0.186 (40.09%)

17:50
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CBAY

CymaBay

17:49
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Initiation
CymaBay initiated at Cantor »

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BBBY

Bed Bath & Beyond

17:46
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Hot Stocks
Bed Bath & Beyond sees net drop in Bed Bath & Beyond stores in FY17 »

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  • 19

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EVH

Evolent Health

$15.65

-0.8 (-4.86%)

17:45
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Initiation
Evolent Health initiated at KeyBanc »

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  • 25

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BPL

Buckeye Partners

$56.33

0.64 (1.15%)

17:44
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Syndicate
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RL

Ralph Lauren

$91.03

0.87 (0.96%)

17:43
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Initiation
Ralph Lauren initiated at Barclays »

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PVH

PVH Corp.

$127.47

-0.54 (-0.42%)

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