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Cinemark Stock Jumps. ‘Movies Are Back.’

Cinemark Stock Jumps. ‘Movies Are Back.’

Cinemark Holdings stock notched a double-upgrade Friday from Wells Fargo, which is betting on rising demand for in-person film viewings. In a Friday research note titled “Movies Are Back,” analyst Omar Mejias lifted his rating on Cinemark stock to Overweight, the equivalent of Buy, all the way from Underweight and increased his price target to $23 from $13. Shares of Cinemark were climbing 4.6% to $19.62 Friday and were on pace to hit their highest close since Oct. 6, 2023, according to Dow Jones Market Data.