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

May 8, 2012 2:54 PM EDT Send to a Friend
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Price: $34.04 --0%

Rating Summary:
    12 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 11 | New: 28
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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.

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