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Fly News Breaks for August 22, 2017
RGC, CNK
Aug 22, 2017 | 08:42 EDT
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.
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