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Fly News Breaks for January 3, 2020
CNK
Jan 3, 2020 | 08:07 EDT
Loop Capital analyst Alan Gould lowered his price target on Cinemark to $42 after the 4.5% decline in 2019 domestic box office sales, noting that while he had anticipated the year to be challenging given the tough comparison with 2018, the final tally was still below his expectations. The analyst is maintaining his Buy rating on Cinemark longer term however, citing the 4% dividend yield on the stock as well as the company's cash position allowing it to potentially initiate a share buyback. Gould further cites Cinemark's consistently strong execution and solid balance sheet.
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