Reading International price target raised to $2.40 from $2 at Macquarie

Macquarie analyst Chad Beynon raised the firm’s price target on Reading International to $2.40 from $2 and keeps a Neutral rating on the shares. While the company has sold several non-core assets to pay down debt and the balance sheet is in a better position, there is still hidden value if Reading can execute, the analyst tells investors in a research note.