Cinemark upgraded to Outperform on EBITDA growth at Barrington

Barrington analyst James Goss upgraded Cinemark (CNK) to Outperform from Market Perform with a $36 price target following the Q3 report. The company has continued to optimize its U.S. footprint, the analyst tells investors in a research note. The firm cites Cinemark’s continued success in gaining market share and achieving “solid” box office and EBITDA for the upgrade. A more consistent movie slate can support improvement in box office, says Barrington, which says Cinemark has a quality balance sheet and solid cash flow generation.