Loading...
Loading...
Wedbush Securities reiterated its Neutral rating on Cinemark Holdings
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in