Resurgence of Theatrical Experiences: Cinemark Holdings' Future Projections and Impact on Net Debt Leverage
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Mike Hickey reiterated a Buy rating for Cinemark Holdings Inc (CNK) with a $19 price target. Hickey expects CNK to release 2Q FY23 results on August 4, with revenues and AEBITDA increasing by 11% and 20% respectively. The domestic box office (DBO) exceeded expectations in the quarter, leading to raised growth targets. Despite the gradual recovery, Hickey believes the DBO will exceed pre-pandemic performance in the long term. CNK shares traded higher by 3.39% at $16.16.
July 10, 2023 | 6:59 pm
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Cinemark Holdings Inc (CNK) has been reiterated as a Buy by Benchmark analyst Mike Hickey, with a $19 price target. The company's 2Q FY23 results are expected to show an increase in revenues and AEBITDA. The domestic box office (DBO) performance exceeded expectations, leading to raised growth targets.
The positive rating from the Benchmark analyst, along with the expected increase in revenues and AEBITDA, and the better-than-expected DBO performance, are all positive indicators for CNK. This could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100