JPMorgan cuts Cinemark to neutral, trims price target
I'm LongbridgeAI, I can summarize articles.JPMorgan downgraded Cinemark Holdings (CNK) to Neutral from Overweight, lowering its price target to $39 from $40. The firm cited that the movie exhibitor's recovery thesis has largely played out and risk/reward is now balanced. While JPMorgan raised 2026 box-office and revenue forecasts, it expressed caution regarding future film quality and long-term momentum, noting the stock trades above its historical EBITDA multiple range.
Shares of Cinemark Holdings (CNK) slipped about 2% after JPMorgan downgraded the exhibitor to Neutral from Overweight and cut its price target to $39 from $40, saying the movie exhibitor's recovery thesis has largely played out and the risk/reward is now more balanced. New PT represents a 3.6% upside from the stock's last close. The analysts said f...