Cinemark price target raised to $24 from $21 at Macquarie

Macquarie raised the firm’s price target on Cinemark to $24 from $21 and keeps an Outperform rating on the shares. Cinemark has a clean balance sheet, superior margins, better theater locations, and a top-notch management team, the analyst tells investors in a research note. Beyond box office recovery, Cinemark has other potential catalysts to stimulate growth, including premium amenities, pricing initiatives, and the resumption of development activity, the firm says.