IMAX Corp (IMAX) Receives a Buy from B.Riley FBR


B.Riley FBR analyst Eric Wold reiterated a Buy rating on IMAX Corp (IMAX) today and set a price target of $34. The company’s shares closed on Friday at $23.24.

Wold wrote:

“We are revisiting IMAX Corporation (IMAX) as the stock remains our favorite play within the broader exhibition space during the current record-breaking box office cycle and we are trying to comprehend what has gone so wrong with the story over the past four years that the company’s total EV would be less than half of where it stood in June 2015—when the shares peaked at $43.80. 5/17/19, IMAX shares have declined by 47% compared to a 36% gain for the S&P 500. So clearly IMAX’s growth story has not been working and the company’s outlook has only worsened significantly since then, right? Wrong.”

According to TipRanks.com, Wold has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.0% and a 36.0% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

Currently, the analyst consensus on IMAX Corp is a Strong Buy with an average price target of $28.

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The company has a one-year high of $27.60 and a one-year low of $17.55. Currently, IMAX Corp has an average volume of 425.6K.

Based on the recent corporate insider activity of 32 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 four business segments: Network Business, Theater Business, New Business, and Other.

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