Barrington Sticks to Its Buy Rating for IMAX Corp (IMAX)

By Ryan Adsit

Barrington analyst James Goss maintained a Buy rating on IMAX Corp (NYSE: IMAX) today and set a price target of $27. The company’s shares opened today at $20.29, close to its 52-week low of $18.85.

Goss observed:

“We are encouraged by new opportunities in the core business line such as greater flexibility in screen usage (now primarily international, but hopefully extending to domestic markets), reduced screening periods for individual films within a larger number of titles (very few run more than a couple of weeks) and experimentation with reseating options. Attention to the cost structure is also important to profitability. Further, newer initiatives in strengthening brand recognition and reception coupled with continually improving video and audio delivery technology, now including laser, contribute to renewed confidence in IMAX.”

According to TipRanks.com, Goss is a 5-star analyst with an average return of 11.3% and a 61.9% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, iPic Entertainment Inc, and Sirius XM Holdings Inc.

IMAX Corp has an analyst consensus of Strong Buy, with a price target consensus of $29.75, which is a 46.6% upside from current levels. In a report issued on October 15, Wedbush also maintained a Buy rating on the stock with a $29 price target.

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The company has a one-year high of $27.60 and a one-year low of $18.85. Currently, IMAX Corp has an average volume of 593K.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock.

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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.