In a report published Thursday, Wedbush Securities analyst Michael Pachter reiterated a Neutral rating on Cinemark Holdings, Inc. CNK, and raised the price target from $36.00 to $40.00.
In the report, Wedbush Securities noted, "We continue to like Cinemark given its international growth prospects, but believe the slow pace of growth in Latin America limits the share price upside from current levels. While there may be room for increased EBITDA generation, profitability will be pressured due to the mix shift toward international revenue over the long-term. Cinemark's international segment has consistently provided a cushion to earnings in quarters where domestic results fall short of expectations, providing a natural hedge. Longer-term, premium video-on-demand has the potential to negatively impact theatre admissions revenues."
Cinemark closed on Wednesday at $41.20.
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