CMC Market post21 Sep 2022 15:46
''Analysts rate Cineworld shares a ‘hold’
While it seems unlikely that Cineworld shares will climb back towards their 2019 high of more than 300p any time soon, analysts appear neutral on the stock. According to the Financial Times, all four of the analysts offering a rating on Cineworld in September 2022 considered the shares a ‘hold’. Their median 12-month price target was 31.54p, representing a 1,040.7% increase on last Friday’s closing price of 2.77p.
For the shares to recover to the analysts’ target price, much will depend on the success of the debt restructuring programme currently underway. The announcement of interim results at 7am on Thursday 22 September is likely to give investors a more accurate indication of how bad things are and a sense of which bits of the business could be sold to help the company cut its debts. ''