B. Riley analyst Eric Wold downgraded Cinemark to Neutral from Buy with a price target of $15, down from $23. The analyst cites the less than 20% share upside to the new price target and headline risk around additional film slate delays and negative year-over-year results comparisons for the downgrade. The firm will look to be more constructive on Cinemark as visibility improves into the slate and a return to industry box office growth over the next 12 months.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CNK:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- The media stocks to own in 2024, according to Wells Fargo
- Cinemark downgraded to Underweight from Equal Weight at Wells Fargo
- Cinemark price target lowered to $16 from $20 at Roth MKM
- 3 Best Stocks to Buy Now, 12/1/2023, According to Top Analysts