Marcus price target lowered to $19 from $23 at B. Riley

B. Riley lowered the firm’s price target on Marcus to $19 from $23 and keeps a Buy rating on the shares. The 2023 box office missed the firm’s original projection due to strike impacts, says the analyst, who remains cautious on 2024 box office revenues after recent reductions. The exhibition stocks may not discount the 2025 box office projections until the second half of 2024, the analyst tells investors in a research note. The firm reduced price targets across the group after shifting its build-ups back to 2024 to both drive more conservative and appropriate valuation outlooks.