Marcus slips as Benchmark cuts PT on disappointing box office collections

Marcus

20/12/2022 18:36

** Shares of hotel chain and theater operator Marcus
Corporation  MCS.N  slip ~5% to $14.21 as Benchmark cuts PT to
$20 from $22; maintains 'buy' rating 
    ** Brokerage cuts PT on disappointing domestic box office
collections, even after the recently released Avatar sequel 
    ** It expects co to experience more growth in FY23-24
regardless of recession, with better films and gradual theater
attendance recovery 
    ** Says 'Avatar: The Way of Water' delivered $134 mln in
domestic opening weekend ticket sales, compared with projections
of $150 mln to $175 mln 
    ** Benchmark thinks the opening weekend sales were affected
by desire of movie-goers to watch in premium locations, such as
IMAX  IMAX.N  
    ** YTD, stock down ~21% 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))