Cineplex (CGX) Receives a Buy from Raymond James


Today, an analyst has provided a rating update for Cineplex (CGX). Analyst Kenric Tyghe from Raymond James reiterated a Buy rating, with a C$31 price target.

According to TipRanks.com, Tyghe is a 4-star analyst with an average return of 5.4% and a 61.7% 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 Moderate Buy analyst consensus rating for Cineplex with a C$31.71 average price target.

Based on Cineplex’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$27.18 million. In comparison, last year the company had a net profit of C$15.23 million.

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 Tuesday at C$25.17, close to its 52-week low of C$22.88.

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