JP Morgan Reports on Cinemark Holdings

JP Morgan commented on Cinemark Holdings (NYSE: CNK) in a report released today. In the report, JP Morgan was positive in its assessment of the company.

JP Morgan writes, "For Cinemark, Latin America continues to motor in Q2 with audiences fervently embracing the Hollywood slate, including Pirates, Fast Five, Thor, and not surprisingly Rio a huge hit. Data points indicate another quarter well into the double digits and outpacing the US. Reiterate Overweight on CNK and RGC into the summer as we see continued box office strength as a catalyst to shares and see potential upside to our estimates—particularly at CNK from LatAm. At 7-8x our 2011E adj. EBITDA and paying healthy dividends yielding 4-6%, we find valuation attractive for these defensive media stocks with strong FCF."

JP Morgan currently has an Overweight rating on Cinemark Holdings and a price target of $27. Shares of Cinemark Holdings closed at $21.75 on Friday, up $0.15 on the day.