The Globe and Mail reports in its Friday, June 24, edition that Canaccord Genuity analyst Aravinda Galappatthige has reaffirmed his "buy" recommendation for Corus Entertainment. The Globe's David Leeder writes that Mr. Galappatthige shaved his share target by a loonie to $6. Analysts on average target the shares at $7.18. Ahead of the June 29 release of Corus's third quarter financial results, The Globe says Mr. Galappatthige has decided to cut his financial expectations for the remainder of the year. He points to "slowing" economic conditions and "a likely cautious stance from advertisers." Mr. Galappatthige says in a note: "We now apply 4.25 times EV/EBITDA 2023 (4.5 times previously) to establish our target. We note that U.S. comps like Warner Bros. Discovery and AMC Networks trade in the 4.5 to 5.5 times EV/EBITDA range. We believe Corus will continue to trade at a discount to these two peers. However, we maintain our 'buy' rating on the stock, owing to its solid value credentials, in particular its compelling free-cash-flow yield, against the backdrop of easing balance sheet leverage." The Globe reported on June 20 that Mr. Galappatthige boosted his share target to $6.50 from $6. Corus was then worth $3.61.