Macquarie raised the firm’s price target on Cinemark (CNK) to $34 from $32 and keeps an Outperform rating on the shares. The company reported another strong beat with Q3 EBITDA coming in 9% above the consensus, the analyst tells investors in a research note. The firm says Cinemark remains a top theatre pick. Share outperformance could come from capital allocation announcements, box office upside and margin improvement, contends Macquarie.
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Read More on CNK:
- Cinemark price target raised to $35 from $31 at Wells Fargo
- Wedbush downgrades Cinemark with shares ‘priced for perfection’
- Cinemark downgraded to Neutral from Outperform at Wedbush
- Cinemark’s Strong Q3 Performance Signals Growth
- Barrington Upgrades Cinemark Holdings (NYSE:CNK) After Strong Q3 Earnings
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