Wedbush Reiterates a Buy Rating on IMAX (IMAX)


Wedbush analyst Michael Pachter reiterated a Buy rating on IMAX (IMAX) today and set a price target of $22.00. The company’s shares closed last Monday at $16.54, close to its 52-week low of $16.29.

According to TipRanks.com, Pachter is a 3-star analyst with an average return of 0.8% and a 50.3% success rate. Pachter covers the Services sector, focusing on stocks such as National Cinemedia, Cinemark Holdings, and AMC Entertainment.

IMAX has an analyst consensus of Strong Buy, with a price target consensus of $25.25, a 47.9% upside from current levels. In a report issued on January 24, B.Riley FBR also maintained a Buy rating on the stock with a $30.00 price target.

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Based on IMAX’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $9.03 million. In comparison, last year the company had a net profit of $1.69 million.

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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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