Cinemark price target raised to $19 from $17 at Roth MKM

Roth MKM analyst Eric Handler raised the firm’s price target on Cinemark to $19 from $17 but keeps a Neutral rating on the shares. The firm notes that while the box office outperformed during Q1, it sees declines in Domestic and International revenue of 8% and 10%, respectively, with Latin America underperforming the U.S. as key titles – Dune: Part Two, Bob Marley: One Love, and Ghostbusters: Frozen Empire – did not resonate as well in the region. Roth MKM believes it will take another two quarters before the industry begins to strengthen, the analyst tells investors in a research note.