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CNK

Cinemark

$39.46

-0.35 (-0.88%)

08:23
06/12/17
06/12
08:23
06/12/17
08:23

Cinemark downgraded to Sell from Neutral at MoffettNathanson

CNK Cinemark
$39.46

-0.35 (-0.88%)

05/11/17
LOOP
05/11/17
NO CHANGE
Target $39
LOOP
Buy
AMC Entertainment share lock-up misunderstood, says Loop Capital
Loop Capital analyst David Miller said he thinks recent AMC Entertainment (AMC) weakness is "based on misinformation and innuendo." The pressure is not due to the company's earnings report and if it is due to the threat of a premium video-on-demand window, he would consider that "a market inefficiency," noting that Cinemark (CNK) should be, but isn't, down too if that were the reason, he tells investors. The Terra Firma lockup involving a total of 2.25M shares did not expire yesterday, as had been rumored, but expires May 30, and Miller said he would find it "very hard to believe" the firm would want to sell its shares at 7.4x EBITDA. The only lock-up that expired earlier this week was the management lock-up attached to the February secondary and it involved only 451,000 shares, added Miller, who keeps a Buy rating and $39 price target on the stock.
04/10/17
04/10/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AstraZeneca (AZN) downgraded to Hold from Buy at Jefferies with analyst Jeffrey Holford citing the impact of future revenue externalizations and asset disposals on revenue and earnings growth. Consensus estimates may overestimate revenue by up to $2.5B and core operating profit by up to $850M by 2021, Holford tells investors in a research note. 2. J.M. Smucker (SJM) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Matthew Grainger saying increased retail competition adds to a challenging US Foods backdrop. The analyst sees two headwinds emerging from Wal-Mart's (WMT) increased leverage over Food manufacturers and renewed private label growth. Grainger said J.M. Smucker's has outsized risk to Wal-Mart and private label risk , and as a result downgraded shares and lowered his price target to $126 from $132. 3. Marriott (MAR) downgraded to Buy from Conviction Buy at Goldman with analyst Stephen Grambling citing outperformance versus the S&P since adding shares to the Conviction Buy List on September 25, 2016. 4. AMC Networks (AMCX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Stan Meyers citing viewership declines at the flagship Walking Dead franchise, "quickly accelerating" content and marketing costs as well as his firm's teen survey which indicated teens are turning away from cable at a faster pace. The analyst cut his price target AMC shares to $60 from $73. 5. Cinemark (CNK) downgraded to Buy from Conviction Buy at Goldman with analyst Michael Ng citing valuation and maintained its Buy rating and $49 price target. The analyst expects Cinemark to outperform box office growth in 2017 given its aggressive rollout of recliners across its US footprint in 2016. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/10/17
GSCO
04/10/17
DOWNGRADE
GSCO
Buy
Cinemark downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Michael Ng removed Cinemark from the Conviction Buy List due to valuation and maintained its Buy rating and $49 price target. The analyst expects Cinemark to outperform box office growth in 2017 given its aggressive rollout of recliners across its US footprint in 2016.
04/03/17
04/03/17
DOWNGRADE
Target $46

Market Perform
Cinemark downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Barton Crockett downgraded Cinemark Holdings (CNK) to Market Perform citing valuation with the stock near his unchanged price target of $46. The analyst this morning also upgraded AMC Entertainment (AMC) to Outperform.

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