UPDATE: Piper Jaffray Maintains Overweight, PT of $22 on RealID

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Piper Jaffray reiterates its Overweight rating and $22 price target on RealID (NYSE: RLD) as impact from domestic weakness is offset by international strength. Piper Jaffray says, "RealD reported quarterly box office results below our expectations, howeverinternational box office beat our forecasts. RealD released estimated fiscal Q3 RealD box office receipts of $532M; adjusting for the international revenue portion not yet reported (10%) we estimate total box office was $563M compared to our estimate of $600M. Domestic box office came in at $256M below our expectations of $313M, likely due to weaker than expected 3D share in the quarter. International box office collected $307M, above our estimate of $288M, as a result of above expectations 3D share."RLD closed at $8.40 per share on Monday.

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