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UPDATE: Morgan Stanley Raises Price Target On Cinemark Holdings, Inc.

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Why Cinemark Should Be Aggressively Bought At These Levels

In a note released Monday morning, Morgan Stanley maintained an Equal-weight rating on Cinemark Holdings, Inc. (NYSE: CNK) while increasing the price target from $34 to $36.

The firm noted, "While Cinemark Holdings Inc. appears fairly valued, buying opportunities may present themselves ahead of 2015 if our below-consensus outlook for the 2H14 box plays out."

Looking ahead, Morgan Stanley is predicting a 13-14 percent drop in the box office for the third quarter of 2014, as well as a four percent drop in the fourth quarter due to tough comps from Frozen and Gravity. Despite this grim outlook for 2014, the firm remains optimistic for Cinemark in 2015.

Latest Ratings for CNK

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

View More Analyst Ratings for CNK
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Posted-In: Morgan StanleyAnalyst Color News Price Target Reiteration Analyst Ratings


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