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Upgrade Alert for Cinemark (CNK)

By Amy Schwartz

Cinemark (NYSE:CNK) was upgraded from Neutral to Buy at B. Riley today. The stock closed yesterday at $37.47 on volume of 830,000 shares, above average daily volume of 580,000.

Cinemark has overhead space with shares priced $37.47, or 10.2% below the average consensus analyst price target of $41.72. The stock should find initial support at its 50-day moving average (MA) of $34.81 and further support at its 200-day MA of $34.16.

Cinemark Holdings, Inc. operates movie theaters. The Company operates in the United States and Latin America.

Cinemark share prices have moved between a 52-week high of $43.05 and a 52-week low of $26.56 and closed yesterday at 41% above that low price at $37.47 per share. The 200-day and 50-day moving averages have moved 0.34% lower and 1.06% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Cinemark. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cinemark in search of a potential trend change.

Keywords: analyst upgrades/downgrades cinemark

Ticker(s): CNK