UPDATE: Benchmark Initiates Coverage on IMAX on Near-Term Optimism, Ongoing Performance Risk
In a report published Wednesday, Benchmark Company analyst Mike Hickey initiated coverage on IMAX Corporation (NYSE: IMAX) with a Hold rating and $29.42 price target.
In the report, Benchmark Company noted, “We remain optimistic near term over the IMAX brand and premium ticket experience they offer to a rapidly unfolding international growth opportunity. We remain cautious over the Company's ongoing performance risk, particularly over a network growth scenario that appears to have slowed meaningfully. We believe both fiscal Q3'13 and Q4'13 financial performance could disappoint street consensus, offset somewhat by a meaningful reduction in street consensus for their fiscal Q3'13 period, as box office performance greatly disappointed original expectations.”
IMAX Corporation closed on Tuesday at $29.70.
Latest Ratings for IMAX
|Jul 2015||Piper Jaffray||Upgrades||Neutral||Overweight|
|Jun 2015||B Riley||Maintains||Buy|
|Jun 2015||Credit Suisse||Maintains||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.