Imperial Capital analyst David Miller believes a November 16 article in Variety on the threat of Premium Video on Demand "single-handedly caused intense selling pressure within the exhibitor investors of late." The potential establishment of a PVOD window was a core narrative around the exhibitor group throughout the Spring and Summer of 2017, "only to fade away completely due to disagreement on structure, and lack of traction," Miller tells investors in a research note. In fact, the analyst raised his fiscal 2018 earnings estimates for Cinemark Holdings due to stabilization of the Brazilian Real and a "more robust" box office halfway through Q4. The analyst sees 24% upside to his $46 price target and keeps an Outperform rating on the shares.