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CLSA retained its Outperform rating on PVR Inox, setting a Rs 2,135 target price—73% above the cited level—citing stronger film releases, rising footfalls and spending, and fatigue with streaming. It expects expansion to boost growth, including 90–100 screens in FY27 and smart screens in smaller cities. A recent Rs 300 crore buyback and improving cash generation could support shareholder returns.