
The Marcus Corporation is reiterated as a Buy, targeting a ~40% upside to a $38.55 price target. Record Q3 revenue of $238M (+13.1% YoY), with Theatres up 21% and Hotels up 2%, despite underperforming national benchmarks. Adjusted EBITDA margin guidance of 14–15% supports valuation scenarios, with FCF strength, dividend growth, and M&A optionality underpinning the thesis.










