BMO Capital Markets Forecasts Strong Price Appreciation for Cineplex (TSE:CGX) Stock

Key Points

• BMO Capital Markets has raised its target price for Cineplex stock from C$13.00 to C$14.00, indicating a potential upside of 18.04% from its previous close.
• Cineplex's stock is currently rated as a "Moderate Buy" on average, with two analysts rating it as a Buy and one as a Hold.
• As of Friday, Cineplex stock traded down 0.9%, reaching C$11.86, with a recent 12-month range between C$8.40 and C$13.09.

Cineplex (TSE:CGX - Get Free Report) had its target price boosted by equities researchers at BMO Capital Markets from C$13.00 to C$14.00 in a note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets' price objective would indicate a potential upside of 18.04% from the stock's previous close.

CGX has been the subject of several other reports. Scotiabank upped their target price on Cineplex from C$12.00 to C$12.75 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Canaccord Genuity Group increased their target price on shares of Cineplex from C$11.00 to C$13.00 in a research note on Friday. Finally, National Bankshares reduced their price target on shares of Cineplex from C$13.50 to C$13.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$13.35.

Cineplex Stock Down 0.9%

Cineplex stock traded down C$0.11 during mid-day trading on Friday, reaching C$11.86. 242,524 shares of the company were exchanged, compared to its average volume of 277,198. The business has a fifty day moving average of C$11.54 and a 200 day moving average of C$10.93. Cineplex has a 12-month low of C$8.40 and a 12-month high of C$13.09. The company has a debt-to-equity ratio of -4,623.78, a quick ratio of 0.22 and a current ratio of 0.43. The firm has a market cap of C$752.40 million, a P/E ratio of -12.48, a PEG ratio of 0.30 and a beta of 0.51.

About Cineplex

Cineplex is a diversified media company that operates chains of movie theaters. The company has four reporting segments: film entertainment and content; media; amusement and leisure; and location-based entertainment. The film entertainment and content segment includes revenue from theater attendance.

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