National Bank Financial Lowers Cineplex Inc (CGX) Price Target to C$42.00
Cineplex Inc (TSE:CGX) had its target price cut by equities research analysts at National Bank Financial from C$46.00 to C$42.00 in a research note issued on Thursday. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s price target would indicate a potential downside of 1.22% from the company’s previous close.
CGX has been the topic of a number of other reports. Scotiabank raised their target price on Cineplex from C$57.00 to C$59.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a C$58.00 target price on shares of Cineplex in a report on Wednesday, April 19th. TD Securities reaffirmed a “buy” rating and issued a C$60.00 target price on shares of Cineplex in a report on Monday, May 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$58.00 target price on shares of Cineplex in a report on Wednesday, May 3rd. Finally, CIBC raised their target price on Cineplex from C$54.00 to C$55.00 in a report on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of C$50.50.
Shares of Cineplex (TSE:CGX) traded down 0.92% during trading on Thursday, hitting $42.13. The stock had a trading volume of 79,919 shares. The stock’s 50-day moving average price is $48.79 and its 200 day moving average price is $50.99. Cineplex has a 1-year low of $41.50 and a 1-year high of $54.81. The firm has a market capitalization of $2.68 billion and a P/E ratio of 35.70.
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Cineplex Inc operates motion picture theatre circuits in Canada and internationally. It operates through two segments, Exhibition and Media. The company engages in various businesses, including theatrical exhibition, food services, gaming, alternative programming, Cineplex digital solutions, and the online sale of home entertainment content through CineplexStore.com and on apps embedded in various electronic devices.
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