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Cinemark Likely to Benefit From Release Slate, Wedbush Says

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Cinemark (CNK) is set to benefit from a more consistent release slate over the next several quarters and further market share gains, Wedbush said in a Monday note.

"The summer slate, especially in Q3, is shaping up very nicely," the report said.

The note said theater investments, including laser projectors, premium seats and screens, IMAX expansion, and strategic pricing could drive market share gains. It also pointed to other benefits such as new builds and returning cash to shareholders.

For its Q1 results due May 1, Wedbush expects Cinemark to post Q1 revenue of $638 million, against consensus of $629 million, and a loss of $0.03 per share, against consensus of $0.16 loss.

Wedbush kept its outperform rating and a $37 price target.

Price: $29.40, Change: $+0.92, Percent Change: +3.23%

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