Stifel Upgrades IMAX Corporation To Buy

In a report released Monday, Stifel analyst Benjamin Mogil upgrades IMAX Corporation

from Hold to Buy with a $32 price target. Analyst at Stifel have previously tracked IMAX Corporation's EBITDA per screen declines due to cost troubles limiting operating leverage and low trends in box office. Stifel now anticipates high JRSA margin expansion in result to expected change operating leverage and EBITDA per screen growth. Mogil claims IMAX China concerns are overblown because of CJ CGV and Wanda conducting most of the installations for 2014 , 2015 and anticipates accelerated installs in 2016 with the next "Avatar". Stifel $32 price target is given a 2015 estimated EBITDA multiple of 13.8x minority interest.