Cinemark price target raised to $22 from $21 at Benchmark

Benchmark raised the firm’s price target on Cinemark to $22 from $21 and keeps a Buy rating on the shares. After a “stellar” Q3 box office performance, the firm raised its sales estimate to $833M and forecasts AEBITDA of $180M, surpassing the consensus view of $153M, the analyst tells investors. The firm’s confidence in Cinemark’s “complete recovery from the pandemic remains unwavering,” the analyst added.