Cinemark price target raised to $31 from $28 at Wells Fargo

Wells Fargo raised the firm’s price target on Cinemark to $31 from $28 and keeps an Overweight rating on the shares. The firm says its Q3 AEBITDA moves from $169M to $209M on a higher DBO, while its Q4/2025 estimates move higher by 2%/5% vs. prior. Despite a rocky start, Wells continues to like the setup for Cinemark through Q4 and into 2025.