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UPDATE: Morgan Stanley Raises PT to $26 on Cinemark Holdings on International Growth

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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.

Latest Ratings for CNK

DateFirmActionFromTo
Aug 2016Loop CapitalInitiates Coverage onBuy
Aug 2016Drexel HamiltonDowngradesBuyHold
Aug 2016B. RileyUpgradesNeutralBuy

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Posted-In: Morgan StanleyAnalyst Color Price Target Intraday Update Analyst Ratings

 

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