Scotiabank Lowers Cineplex (CGX) Price Target to C$45.00

Cineplex (TSE:CGX) had its price objective lowered by investment analysts at Scotiabank from C$46.00 to C$45.00 in a note issued to investors on Wednesday. The firm presently has an “outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 33.89% from the company’s previous close.

A number of other research firms also recently commented on CGX. Raymond James Financial decreased their price objective on shares of Cineplex from C$52.00 to C$46.00 and set an “outperform” rating for the company in a report on Tuesday, September 26th. TD Securities cut their target price on Cineplex from C$52.00 to C$47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Finally, National Bank Financial cut their target price on Cineplex from C$42.00 to C$40.50 and set a “sector perform” rating on the stock in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$45.81.

Cineplex (CGX) opened at C$33.61 on Wednesday. The company has a market cap of $2,130.00, a price-to-earnings ratio of 32.63 and a beta of 0.41. Cineplex has a 1-year low of C$33.07 and a 1-year high of C$54.81.

In related news, insider Lorraine Marie Legault acquired 1,625 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of C$39.82 per share, for a total transaction of C$64,707.50. Also, Director Sarabjit Marwah acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were bought at an average price of C$37.07 per share, for a total transaction of C$185,350.00. Insiders acquired 10,625 shares of company stock worth $394,058 over the last quarter.

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About Cineplex

Cineplex Inc (Cineplex) is a Canada-based film exhibition company. The Company’s segments include Exhibition and Media. The Exhibition segment includes all direct and ancillary revenues from theatre attendance, including box office and food service revenues. The Exhibition segment also includes amusement gaming and leisure, theatre rentals and digital commerce rental and sales.

Analyst Recommendations for Cineplex (TSE:CGX)

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