Taylor Swift's Concert Film & Beyoncé's Documentary: How They're Setting Cinemark Up for A Breakout Q4, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Benchmark analyst Mike Hickey reiterated a Buy rating on Cinemark Holdings Inc (CNK) and raised the price target from $21 to $22. The Q3 sales estimate has been revised upwards to $833 million due to better than expected box office results. The analyst expects a strong Q4 2023 due to Taylor Swift's concert film and Beyoncé's documentary, which are expected to bring in significant revenue. The analyst is confident in CNK's recovery from the pandemic and anticipates sustained growth.
October 06, 2023 | 7:52 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Cinemark Holdings Inc (CNK) has received a Buy rating from Benchmark analyst Mike Hickey, who has raised the price target from $21 to $22. The company is expected to perform well in Q4 2023 due to upcoming film releases.
The analyst has reiterated a Buy rating on CNK and raised the price target, indicating confidence in the company's performance. The upcoming releases of Taylor Swift's concert film and Beyoncé's documentary are expected to boost the company's revenue, which could positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100