B. Riley Securities analyst Eric Wold on Friday upgraded his rating on shares of cinema giant Cinemark from "neutral" to "buy" and doubled his stock price target to $28, predicting "attendance should return to 2019 levels by 2023." Following a chat this week withCinemark CEO Mark Zoradi, CFO and COO Sean Gamble and Chanda Brashears, vp of investor relations,about the coronavirus pandemic and the company's outlook, Wold published a report entitled "Virtual 'Fireside Chat' Highlights Underlying Operating Strengths in the Midst of Reopening Uncertainties." "We continue to believe that consumers want to return to theaters when permitted and are optimistic that a more efficient vaccine distribution in the coming months will make that more of a.
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