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Cineworld well placed for more deals in Europe, say analysts

Discussion in 'Market News' started by Lily, Oct 7, 2015.

  1. Lily

    Lily Forum Member

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    Company could snap up further chains in fragmented European markets

    Cineworld could boost its future growth prospects by snapping up cinema chains in Europe, leading analysts have said.

    In a hefty note on European cinema operators, Berenberg has started coverage of Cineworld with a buy recommendation and 650p price target, compared to the current share price of 567.5p, up 2.5p.

    Given that many of the largest European countries are still highly fragmented, we believe Europe could be the hot spot for cinema M&A over the next five years. With Cineworld being cash generative and facilities in place, we see further scope for M&A in the coming years.

    Cineworld acquired Picturehouse in 2012 and Cinema City in 2014 – highlighting the company’s competitive nature and willingness to grow beyond its home market in the UK.

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