Analysts seem to be feeling optimistic about Cineplex (CGX) lately, as after RBC Capital and Canaccord Genuity rated the stock a Buy this past month, there is another positive note, this time from Raymond James. Raymond James’ analyst Kenric Tyghe reiterates their Buy rating on the shares, with a C$31 price target.
According to TipRanks.com, Tyghe is a 4-star analyst with an average return of 5.9% and a 59.1% success rate. Tyghe covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Dollarama Inc, and Cineplex.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cineplex with a C$31 average price target, which is a 25.3% upside from current levels. In a report issued on May 10, Canaccord Genuity also reiterated a Buy rating on the stock with a C$32 price target.
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Cineplex’s market cap is currently C$1.56B and has a P/E ratio of 29. The company has a Price to Book ratio of 2.45.
Cineplex Inc. is engaged in the theatre operations business. It operates in the film entertainment and content, amusement and leisure, and media sectors.
The company’s shares closed on Wednesday at C$24.75, close to its 52-week low of C$22.88.
