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Fly News Breaks for July 15, 2019
CNK
Jul 15, 2019 | 08:52 EDT
MKM Partners analyst Eric Handler lowered his price target on Cinemark to $43 to reflect the 3.7% decline in its domestic box office during Q2 - wider than the 3% he expected. The analyst believes that investors are becoming more concerned about the company's prospects for 2020, but also maintains his Buy rating on the shares. Handler notes Cinemark's Latin American box office outperformed expectations with an increase of about 20% - the first increase in revenue for that market since Q4 of 2017.
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