Topeka Capital Downgrades Cinemark Holdings (CNK) to Hold

Topeka Capital downgraded Cinemark Holdings (NYSE: CNK) from Buy to Hold with a price target of $39 (unchanged). The downgrade follows a 20% run.

Analyst David W. Miller said, "Similar to our call on Regal 3 weeks ago, we are downgrading CNK for the simple reason that the stock has performed in line with our 'Buy' rating, up 20.6% since initiating coverage on Feb. 18 (up 23.1% accounting for dividends), trouncing both the S&P 500 and the Russell in that span of time, in what's proven to be a difficult stock-picking year. The stock now also trades a mere 7.3% shy of our target price, one we are not changing."

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 $36.34 yesterday.

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