In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on IMAX Corp (NYSE: IMAX), with a price target of $34. The company’s shares closed yesterday at $22.75.
Wold wrote:
“We are adding IMAX Corporation (IMAX) to the Alpha Generator list while retaining our Buy rating and unchanged $34 PT. While our underlying positive thesis on IMAX remains unchanged with a concentration on the strong positioning of the IMAX format within a global blockbuster-fueled box office environment and management’s enhanced focus on the core cinema operations and away from the numerous unsuccessful new investments. However, we are specifically choosing to add IMAX to the Alpha Generator list ahead of this weekend’s domestic release of Fallen Kingdom given our belief that it will further solidify our recent shift towards an upside bias to 2Q18 IMAX box office projections vs. concerns about downside risk just a couple of weeks ago.”
According to TipRanks.com, Wold is a 5-star analyst with an average return of 9.1% and a 59.9% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
IMAX Corp has an analyst consensus of Strong Buy, with a price target consensus of $30.
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IMAX Corp’s market cap is currently $1.46B and has a P/E ratio of 138.13. The company has a Price to Book ratio of 2.65.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: Network Business, Theater Business, New Business, and Other.
