Wells Fargo downgraded Cinemark to Underweight from Equal Weight with a price target of $13, down from $16. The firm revised its 2024 domestic box office estimate down by 10% and believes Street estimates for FY24 remain too high, so it expects shares to be pressured over the near-term by further negative revisions.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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: