B.Riley FBR Keeps a Buy Rating on IMAX Corp (IMAX)

By Ryan Adsit

In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on IMAX Corp (IMAXResearch Report). The company’s shares closed yesterday at $20.66.

Wold wrote:

“We view this as a function of two trends that are likely to positively influence results out of the region in 2019 and going forward: (1) management’s decision starting last year to target a handful of local language films around the Chinese New Year holiday (and be flexible with the screen utilization of each) vs. an imported (2) our belief that the aging of the IMAX screen base in China over the past couple of years has reached a point where immature screens will no longer represent a headwind to average results in the region. We note that along with the aging/seasoning of the screen base in China, there was a positive stabilization of PSAs (per screen averages) within the region during 2H18.”

According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -3.9% and a 36.7% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and AMC Entertainment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX Corp with a $27.50 average price target, representing a 33.1% upside. In a report issued on January 30, Wedbush also reiterated a Buy rating on the stock with a $28 price target.

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The company has a one-year high of $27.60 and a one-year low of $17.55. Currently, IMAX Corp has an average volume of 491.8K.

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IMAX Corp. is an entertainment technology company, which engages in the business of motion picture technologies and presentations. It operates through following business segments: Network Business, Theater Business, New Business, and Other.