Analyst firm B. Riley Securities has lowered its box-office estimates for the media and entertainment industry, citing the effects of delayed movie releases.
Set... Analyst firm B. Riley Securities has lowered its box-office estimates for the media and entertainment industry, citing the effects of delayed movie releases. Set against this backdrop, B. Riley lowered its AMC Entertainment Holdings Inc. AMC price target to $4.50 from $7.50 and its Cinemark Holdings Inc. CNK target to $13 from $16. The analyst firm also lowered its Marcus Corp. MCS price target to $24 from $25 and its National CineMedia Inc. NCMI price target to $0.25 from $0.50.
However, the analyst firm chose Chicken Soup for the Soul Entertainment Inc. CSSE as its top media pick for 2023. The video-streaming company, which owns Crackle and other ad-supported services, has been attracting plenty of attention in recent months. Ad-supported video on demand has been in the spotlight following moves by Netflix Inc. NFLX and Walt Disney Co. DIS to ramp up their ad-supported streaming efforts.