Market Overview

UPDATE: J.P. Morgan Downgrades Cinemark Holdings to Neutral, Reiterates $30 PT

Share:
Related CNK
There Will Be Blood: Box Office Could Kill For Second Straight Weekend On Backs Of Evil Clown, Eerie Mom
Emagine Entertainment Aims For Movie Theater 'Magnificence' With Caramel Corn And Super Screens

In a report published Monday, J.P. Morgan & Co. downgraded its rating on Cinemark Holdings (NYSE: CNK) from Overweight to Neutral, and reiterated its $30.00 price target.

J.P. Morgan noted, “We continue to find shares attractive at 7.0x 2013 adj. EBITDA and paying a healthy dividend yielding 3.1% given CNK's long-term growth outlook that is driven by LatAm outperformance and attractive FCF generation. However, we believe Q4 strength is largely reflected in shares currently and believe any weakness in Q1 box office may be a near-term headwind to the stock, potentially leading to opportunity for a lower entry point.”

Cinemark Holdings closed on Friday at $27.20.

Latest Ratings for CNK

DateFirmActionFromTo
Aug 2017PiperJaffrayInitiates Coverage OnOverweight
Jul 2017WedbushUpgradesNeutralOutperform
Jun 2017Credit SuisseDowngradesNeutralUnderperform

View More Analyst Ratings for CNK
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Downgrades Analyst Ratings

 

Related Articles (CNK)

View Comments and Join the Discussion!
Loading...
Loading...