Barrington lifted his rating from neutral to outperform-$5.50
Barrington analyst James Goss lifted his rating from neutral to outperform on the cinema advertising company and gave it a price target of $5.50
Goss acknowledged that a return to normal would take time, saying that 2021 would be a transitional year for the company but the business should make a full recovery by 2022.
He also said that digital initiatives would increase the company's opportunities as the industry reopened.
The news comes as movie theaters have started reopening across the country with Labor Day weekend, which includes the release of Tenet, expected to be a big test for the box office and movie theater demand.
Studios like Universal and Disney have started releasing films directly to consumers through streaming and on-demand services, and Universal managed to negotiate down the theatrical window with AMC Entertainment, from 75 days to just 17.
www.fool.com/investi...k-was-soaring-today/
Goss acknowledged that a return to normal would take time, saying that 2021 would be a transitional year for the company but the business should make a full recovery by 2022.
He also said that digital initiatives would increase the company's opportunities as the industry reopened.
The news comes as movie theaters have started reopening across the country with Labor Day weekend, which includes the release of Tenet, expected to be a big test for the box office and movie theater demand.
Studios like Universal and Disney have started releasing films directly to consumers through streaming and on-demand services, and Universal managed to negotiate down the theatrical window with AMC Entertainment, from 75 days to just 17.
www.fool.com/investi...k-was-soaring-today/