IMAX Corp (IMAX) Receives a Buy from B.Riley FBR

By Jason Carr

B.Riley FBR analyst Eric Wold maintained a Buy rating on IMAX Corp (NYSE: IMAX) today and set a price target of $34. The company’s shares opened today at $23.35.

Wold commented:

“We believe a 15.0x multiple on our 2018 adjusted EBITDA estimate is reasonable and achievable, which yields a PT of $34. XPER: Our $26 PT is based on a SOTP analysis that combines a 10.0x multiple applied to our 2019 baseline EBITDA estimate (yielding ~$23 per share) and a 25% probability weighting of a successful settlement/license with Samsung being secured during 2019 (yielding ~$3 per share). DLB: Given DLB’s strong balance sheet and market leading positions in a number of CE segments, we remain comfortable applying a multiple of 11.0x to our CY19 adjusted EBITDA estimate, which yields a PT of $69.”

According to TipRanks.com, Wold is a 5-star analyst with an average return of 11.4% and a 63.2% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, National Cinemedia, and AMC Entertainment.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMAX Corp with a $32 average price target.

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IMAX Corp’s market cap is currently $1.47B and has a P/E ratio of 74.67. The company has a Price to Book ratio of 2.79.

Based on the recent corporate insider activity of 35 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.