The Globe and Mail reports in its Friday, Nov. 24, edition that Scotia Capital analyst Maher Yaghi has reaffirmed his "sector outperform" recommendation for Cineplex. The Globe's David Leeder writes in the Eye On Equities column that Mr. Yaghi gave his share target a 75-cent trim to $11.75. Analysts on average target the shares at $13.13. With improvement to its balance sheet being a key focus of investors, Mr. Yaghi thinks Cineplex "made great strides on this" through the $155-million sale of its non-core Player One Amusement Group business to Los Angeles-based private equity firm OpenGate Capital. Mr. Yaghi says in a note: "While the price tag received is below the value we had previously ascribed to the assets (buyer paid the equivalent of five times EBITDA versus our previous 7.5 times), the company will likely report an accounting gain given the $90-million balance sheet valuation. We believe this asset sale was on strategy to focus on key growth assets and improve the balance sheet in order to potentially begin rolling out investor-friendly actions such as restarting the dividend toward the end of 2024." Mr. Yaghi views the deal "positively" for Cineplex.