Is Cinemark’s Rally a Good Sign for AMC Stock? Shares of Cinemark (NYSE: CNK ) are surging higher by over 9% following an upgrade by Morgan Stanley. The company operates in the same industry as AMC (NYSE: AMC ), although AMC holds the title for the most theater screens across the U.S. and Canada. AMC operates 7,850 screens, while Cinemark comes in third with 4,426 screens. Thus, any positive for CNK stock should signal similar positives for AMC stock. However, investors should remember that while the two companies operate in the same industry, the respective management teams ultimately dictate each company’s potential. Morgan Stanley analyst Benjamin Swinburne maintained his CNK price target of $22 and upgraded it to “overweight” from “equal weight.” The price target implies upside of over 20% from current prices. Swinburne believes that Cinemark is following a “counter-cyclical” trend as a form of inexpensive entertainment. As a result, it has been insulated from a slowing economy. This belief can apply to AMC as well. On top of that, Swinburne expects the North American box office can grow by 85% in 2023 when compared to 2019 as customers return to theaters.