Analysts hold forecasts on Cineworld despite positive outlook

7th Jul 2015 10:05

Analysts left ratings for Cineworld unchanged following a positive trading statement which recorded revenues up 11.2% for the first half of the year.Numis retained it's 'add' rating on the stock and a target price of 550p, while it noted the results were strong."As expected, Cineworld's admissions are rising less quickly than the market, reflecting its broader film range a year with numerous potential blockbusters," Numis said.The brokerage said provided summer trading was reasonable, it would upgrade its rating at the time of interim results on 31 August.Similarly N +1 Singer said the first-half result "provides a solid foundation for the rest of the year," but did not adjust its forecasts. N+1 Singer retained a 'buy' rating and 550p target price on the stock.Canaccord kept a 'buy' rating on the stock, and maintained a target price of 540p, while saying, as expected, the first trading statement was "great".Analysts at the firm said the combination of a good film slate and soft comparatives bode well for the rest of the year, and importantly the new build programme was on track.Shares in Cineworld had gained 0.42% to 482p on Tuesday at 10:18.