MoffettNathanson Downgrades Cinemark Holdings (CNK) to Neutral

MoffettNathanson downgraded Cinemark Holdings (NYSE: CNK) from Buy to Neutral.

Analyst Robert Fishman commented, "Currently, there are a few positive data points helping drive a meaningful rebound in exhibitors’ stock prices from the lows in early February. However, despite the strong 1Q box office, we are somewhat more cautious on the group given what looks to be the early signs of an industry-wide capex war with elevated spending for years to come. In addition, in the short-term, tougher box office trends for the rest of the year will likely limit the upside at both Cinemark and Regal."

The firm maintained a Neutral rating for Regal (NYSE: RGC).

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 $35.42 yesterday.

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