Regal Entertainment upgraded to neutral from sell at B. Riley
With a slate of promising films scheduled for release in the third and fourth quarters of 2015, analysts at B. Riley & Co. on Thursday upgraded Regal Entertainment Group stock to neutral from sell. In a note to investors, B. Riley analyst Eric Wold wrote that the shares had underperformed the broader sector since the firm downgraded then to sell from neutral in April. Regal theaters have 25% IMAX Corp.'s domestic screen base, which should boost attendance and revenue in the coming quarters. "We no longer believe the risk/reward at this level warrant a sell rating," Wold wrote. He raised his price target to $20 from $19. Regal Entertainment's stock has declined about2 % in the year-to-date, while the S&P 500 has gained about 1%.
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