April 22, 2014 8:45 AM | 1 min read
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In a report published Tuesday, Wedbush analyst Michael Pachter reiterated a Neutral rating and $28.00 price target on
IMAX (NYSE: IMAX).In the report, Wedbush noted, “We are increasing Q1 estimates to reflect stronger-than-expected box office results for IMAX. We are also increasing our expectations for Q2 and Q3 as details regarding the IMAX film slate are fleshed out. We expect Q1 revenue of $55 million and EPS of $0.09, vs. prior estimates of $53 million and $0.08, and consensus of $51 million and $0.06. Captain America: The Winter Soldier is producing summer blockbuster results in April, with $202 million since opening April 4."The highest grossing film quarter-to-date in Q2:13 was The Croods, at roughly $63 million. Q2:14 is off to a very strong start, up 23.7% compared to last year. The results of Captain America are being bolstered by the success of The Avengers franchise, which also helped Thor: The Dark World this past November.”IMAX closed on Monday at $27.96.
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