B. Riley FBR analyst Eric Wold on Monday downgraded his rating on shares of exhibition giant Cinemark from "buy" to "neutral," citing "continued uncertainty around key state opening timelines and [the] second-half film slate and [a] worsening COVID-19 situation in Brazil." He cut his price target on the stock from $16 to $13. "Even though we only recently upgraded Cinemark to 'buy' on April 6 after being on the sidelines for nearly five months, we have since become increasingly concerned around the potential for a second-half 2020 rebound as well as the company's exposure to Brazil as the COVID-19 pandemic worsens in that country," Wold wrote. "Since our upgrade, Cinemark shares have gained about 42 percent compared to an average gain of.
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