Cinemark's Strong Position In Global Exhibition Industry Fuels Analyst Upgrade
Portfolio Pulse from Lekha Gupta
B.Riley Securities analyst Eric Wold upgraded Cinemark Holdings Inc (NYSE:CNK) to Buy from Neutral, raising the price target to $23 from $20. Wold is confident about improved Q2 2023 results and the company's strong position in the global exhibition industry. He also raised the box office projection to $9.1 billion from $8.9 billion as YTD box office revenues exceed the initial forecast by ~4%. CNK shares are trading higher by 2.35% at $16.32.
July 12, 2023 | 4:24 pm
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Cinemark Holdings Inc (NYSE:CNK) has been upgraded to Buy from Neutral by B.Riley Securities, with a raised price target of $23. The analyst is confident about improved Q2 2023 results and the company's strong position in the global exhibition industry.
The upgrade from B.Riley Securities, along with the raised price target, indicates a positive outlook for Cinemark Holdings Inc. The analyst's confidence in the company's Q2 2023 results and its position in the global exhibition industry could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100