Canaccord Genuity Thinks Cineplex’s Stock is Going to Recover

Canaccord Genuity analyst Aravinda Galappatthige maintained a Buy rating on Cineplex (CPXGFResearch Report) yesterday and set a price target of C$17.00. The company’s shares closed last Monday at $7.05, close to its 52-week low of $4.00.

According to TipRanks.com, Galappatthige is a 2-star analyst with an average return of -0.1% and a 52.3% success rate. Galappatthige covers the Services sector, focusing on stocks such as Cogeco Communications, Shaw Communications, and Corus Entertainment.

Cineplex has an analyst consensus of Hold, with a price target consensus of $11.10, a 48.9% upside from current levels. In a report issued on June 25, Scotiabank also initiated coverage with a Buy rating on the stock with a C$15.00 price target.

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Cineplex’s market cap is currently $446.5M and has a P/E ratio of 12.80. The company has a Price to Book ratio of -2.16.

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Cineplex Inc. engages in the theatre operations business. It operates in the film entertainment and content, amusement and leisure, and media sectors. The firm also engages in digital commerce, food service, alternative programming, cinema media, digital place-based media, amusement solutions and an online e-sports platform for competitive and passionate gamers. The company was founded in 1912 and is headquartered in Toronto, Canada.