Theater operator Cineplex Inc. (TSE:CGX) recently inaugurated the first location of its new entertainment complex, Junxion, in Winnipeg, Manitoba, three years after the company introduced the Junxion concept. The company had suffered massively during the COVID-19 pandemic, and Junxion’s inauguration is part of the company’s recovery mission. Year-to-date, shares of the company have lost 26.32% of their value.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The first location was initially intended to be opened at the Erin Mills Town Centre mall in Mississauga, Ontario, in 2020. The Junxion is an arcade area of entertainment that includes a new theater, diner, games, a party room, and a space for live entertainment. The first location was opened at Kildonan Place, a mall in Winnipeg.
The new complex may increase Cineplex’s competitive standing among on-demand streaming services, which do not release all their films in traditional theatres.
Is CGX a Buy?
Wall Street is bullish on CGX stock’s long-term prospects, as evidenced by the Strong Buy consensus rating based on four unanimous Buys. The average price target of C$14.28 indicates that there is almost 47% room for the stock to run over the next year.
Additionally, the CGX stock price is currently trading at 0.52 times its trailing twelve-month sales, possibly opening a remarkable buying opportunity.
