UPDATE: Morgan Stanley Raises PT to $26 on Cinemark Holdings on International Growth
Morgan Stanley reiterated its Equal-weight rating on Cinemark Holdings (NYSE: CNK) and raised its price target from $24 to $26.
Morgan Stanley noted, "We are raising our ‘13 estimates following the international-fueled 3Q results and raise our PT to $26. We continue to be bullish on CNK's int'l growth opportunity, but see challenging domestic trends and prefer other names in Media with stronger growth trends at similar multiples. Remain EW. … We continue to expect mid-single-digit YoY growth to be led by strength from Skyfall, Twilight, and The Hobbit."
Cinemark Holdings closed at $25.82 on Friday.
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