As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Cinemark (CNK) to Equal Weight from Overweight with a price target of $28, down from $35, citing a lowered box office forecast and a 10% reduction in FY26 and FY27 adjusted EBITDA estimates. The firm’s updated estimates are below consensus and the return of capital catalysts have “already played out,” the analyst tells investors.
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