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The strong Q3 results indicate a positive trend for Cinemark, similar to past recoveries.
What happened, with direct paths to the underlying reporting
Cinemark reported Q3 revenue of $922 million, exceeding expectations. Average ticket price rose by 6.3%, with concessions increasing 10.7%. Benchmark analyst raised price target to $35, citing strong growth potential. Cinemark's box office approached pre-pandemic levels, sustaining market share gains. Analysts believe dividend reinstatement will enhance value in 2024.
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