MoffettNathanson Downgrades Cinemark Holdings (CNK) to Sell; 'Dual Threats Too Hard To Ignore'

June 12, 2017 7:34 AM EDT
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Price: $22.40 +1.50%

Rating Summary:
    13 Buy, 10 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 5 | New: 58
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MoffettNathanson downgraded Cinemark Holdings (NYSE: CNK) from Neutral to Sell with a price target of $33 (from $40).

Analyst Robert Fishman said they can no longer ignore two threats facing exhibitors: Premium Video On-Demand and Netflix.

"While each of these threats is unlikely to pose a material negative impact to near-term financials, we expect these longer-term industry headwinds to pressure the multiple investors use to value exhibition stocks," the analyst said.

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 $39.46 yesterday.

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