Cinemark price target raised to $35 from $34 at Roth Capital

Roth Capital analyst Eric Handler raised the firm’s price target on Cinemark (CNK) to $35 from $34 and keeps a Buy rating on the shares after the company reported “strong outperformance” in a soft Q3 box office environment. Having paid off its pandemic related debt and reduced its net leverage, Cinemark has “significant financial flexibility” to reinvest in the business, return capital to shareholders, and explore M&A, the analyst tells investors.