UPDATE: Sterne Agee Initiates IMAX at Neutral on Expected In-Line Performance

In a report published Thursday, Sterne Agee analyst Vasily Karasyov initiated coverage on IMAX IMAX with a Neutral rating and $28.00 price target.

In the report, Sterne Agee noted, “We are initiating coverage of IMAX with a Neutral rating as we expect the stock to perform in line with the group in the next twelve months. We think IMAX is well positioned to capture increasing share of box office spending worldwide, and the business model and cost structure suggest margin improvement potential. However, our $28 price target implies limited upside to the current price.”

IMAX closed on Thursday at $26.28.