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Scotia Capital initiates coverage on Cineplex Galaxy
Posted on June 17, 2008
Scotia Capital analyst Turan Quettawala initiated coverage on Tuesday of Cineplex Galaxy Income Fund with a sector perform rating and a one-year target price of $19.50.The fund's shares were at $15.93 in afternoon trading on the Toronto Stock Exchange.Mr. Quettawla says that while he sees several long-term positives with the company, its units are likely to trade range-bound over the near term as third-quarter summer box office numbers are widely expected to fall short of last year's bumper haul.But this would be an opportune time to buy into the fund, Mr. Quettawala said, thanks to its pote...
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