Barclays Raises PT and Estimates on Cinemark Holdings (CNK); Captain Latin America

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Barclays maintains an 'Equalweight' on Cinemark Holdings (NYSE: CNK) price target raised from $24 to $26.

Analyst, Anthony DiClemente, said, "1Q12 results beat expectations driven by upside from Latin America. While the 2Q box office has gotten a boost from the strong debut of The Avengers, we are leaving our domestic estimates unchanged for now and tweaking down our international estimates owing to a stronger FX headwind."

DiClemente also noted that CNK is well positioned for M&A, citing recent discussions with the company, who's management said the environment is becoming more active. (FY12 EPS estimate raised from $1.52 to $1.55, FY13 maintained at $1.70)

For an analyst ratings summary and ratings history on Cinemark Holdings click here. For more ratings news on Cinemark Holdings click here.

Shares of Cinemark Holdings closed at $23.68 yesterday, with a 52 week range of $17.10-$24.43.

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