Cineplex Inc (CGX) Price Target Cut to C$47.00
Cineplex Inc (TSE:CGX) had its target price cut by stock analysts at TD Securities from C$52.00 to C$47.00 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 30.59% from the company’s current price.
A number of other equities research analysts have also recently issued reports on CGX. National Bank Financial cut Cineplex from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$60.00 to C$56.00 in a report on Friday, July 14th. Scotiabank reduced their price objective on Cineplex from C$60.00 to C$57.00 and set an “outperform” rating for the company in a report on Thursday, July 20th. CIBC reduced their price objective on Cineplex from C$55.00 to C$50.00 in a report on Thursday, August 3rd. Canaccord Genuity reduced their price objective on Cineplex from C$59.00 to C$51.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada upgraded Cineplex from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from C$54.00 to C$50.00 in a report on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$46.81.
Shares of Cineplex (TSE:CGX) opened at C$35.99 on Wednesday. Cineplex has a 1-year low of C$34.43 and a 1-year high of C$54.81.
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In related news, insider Daniel F. Mcgrath purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of C$38.59 per share, for a total transaction of C$385,900.00.
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.
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