DIS - Cinemark On A Financial Upswing But Can It Navigate Hollywood's Uncertain Terrain? Analyst Weighs In | Benzinga
Roth MKM analyst Eric Handler maintained a Neutral rating on the shares of Cinemark Holdings Inc (NYSE: CNK) with a $20 price target.
The analyst said box office results have exceeded projections in all three quarters of this year, which has put Cinemark on a path for positive free cash flow and a significantly strengthened balance sheet.
However, the analyst is concerned about the ongoing Hollywood labor issues, which could stall the momentum.
Although the analyst increased Q3 FY23 revenue outlook to $850 million from $823 million, the adjusted EBITDA forecast has been moved only nominally to $173 million from $172 million.
The lack of a larger profit revision is ...