As previously reported, Wedbush upgraded Cinemark (CNK) to Outperform from Neutral with a price target of $37, up from $32. The firm believes the company is poised to benefit from a more consistent release slate over the next several quarters, approaches its convertible debt repayment date next month, stays ahead of competitors with theater investments, and returns cash to shareholders in 2025 with a dividend and likely with shares repurchases.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CNK:
- Cinemark upgraded to Outperform from Neutral at Wedbush
- Deutsche starts Cinemark with Buy on improving film releases
- Cinemark initiated with a Buy at Deutsche Bank
- Cinemark Holdings: Optimistic Outlook Amid Short-Term Challenges with Strong Film Lineup and Strategic Growth Initiatives
- Cinemark price target lowered to $35 from $36 at Roth Capital