Canaccord Genuity Reiterates Buy Rating, $32 PT on IMAX Corporation
In a report published Monday, Canaccord Genuity reiterated its Buy rating and $32.00 price target on IMAX Corporation (NYSE: IMAX).
Canaccord Genuity noted, “We have reviewed our longer-term forecasts and have opted to use $1.1M as our standard box office PSA (per screen average) for IMAX on a go-forward basis in our projections. Based on the box office numbers we have seen through 2012, it is apparent that the final 2012 PSA is likely to be closer to $1.1M rather than $1.2M. We currently expect it will come in at $1.11M. This compares with $960K in F2011 and $1.65M in F2010.”
IMAX Corporation closed on Friday at $21.76.
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