Cinemark Holdings (CNK) PT Raised to $30 at Benchmark; Sees Box Office Bounce Back

March 3, 2021 7:43 AM EST
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Price: $16.13 +0.31%

Rating Summary:
    13 Buy, 9 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 11 | New: 19
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Benchmark analyst Mike Hickey raised the price target on Cinemark Holdings (NYSE: CNK) to $30.00 while maintaining a Buy rating.

The analyst commented, "We believe virus mitigation efforts has inflected in the U.S., we anticipate an accelerated trend toward a desire for normality, escapism and out of home entertainment. The recent box office strength from Tom and Jerry, a movie that succeeded despite poor reviews and reduced screen capacity, was a wakeup call that a box office growth reset has emerged. We remain encouraged that widespread vaccinations, regulatory unlocks and blockbuster films will drive box office growth, like what we have witnessed in China, Japan and Australia."

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