Market Overview

UPDATE: Wedbush Securities Raises PT to $26 on Cinemark Holdings on Asset Acquisition

Share:
Related CNK
Investors: Watch These Media Stocks In The Heat Of Earnings Season
Top 4 NYSE Stocks In The Movie Production, Theaters Industry With The Highest EPS
Pick These 3 Stocks Over Disney To Profit From The Avengers And Star Wars (Seeking Alpha)

Wedbush Securities reiterated its Neutral rating on Cinemark Holdings (NYSE: CNK) but raised its price target from $25 to $26.

Wedbush Securities commented, "Maintaining our NEUTRAL rating and raising our price target $26 from $25 to reflect the positive impact of the acquisition, while maintaining caution given an increase in Cinemark's increased net debt position. After accounting for Cinemark's ownership stake in National CineMedia, we arrive at a $26 price target, which reflects a 6.3x EV/EBITDA multiple on 2013 estimates, in line with its historical multiple. We maintained Cinemark's multiple to reflect its growth opportunities domestically and internationally, balanced with increasing net debt and our caution given its dependence on economic growth in Latin America."

Cinemark Holdings closed at $25.91 on Friday.

Latest Ratings for CNK

DateFirmActionFromTo
Apr 2015RBC CapitalInitiates Coverage onOutperform
Apr 2015Janney CapitalDowngradesBuyNeutral
Feb 2015JP MorganMaintainsOverweight

View More Analyst Ratings for CNK
View the Latest Analyst Ratings

Posted-In: Wedbush SecuritiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (CNK)

Around the Web, We're Loving...