“Following IMAX’s 4Q12 earnings, we are lowering our rating from a Buy to a Hold on valuation. Our fair value estimate is $28-29 (previous target price of $25). The earnings did have a good read through to 2013 in terms of improving JRSA margins, stable box office splits and continued reduction in DMR costs. While an increase in screen installation guidance is likely, it will not be as material as in years past given the company’s recent change in guidance methodology. The company, correctly in our view, downplayed buyback interestnoting that JRSA pipeline remains strong.,” Stifel Nicolaus’ analyst wrote.
Several other analysts have also recently commented on the stock. Analysts at MKM Partners raised their price target on shares of Imax Corporation from $27.00 to $29.00 in a research note to investors on Tuesday, February 19th. They now have a buy rating on the stock. Separately, analysts at Zacks downgraded shares of Imax Corporation from an outperform rating to a neutral rating in a research note to investors on Monday, February 11th. They now have a $25.80 price target on the stock. Finally, analysts at Barrington Research reiterated an outperform rating on shares of Imax Corporation in a research note to investors on Monday, February 11th. They now have a $37.00 price target on the stock.
Shares of Imax Corporation traded down 0.55% during mid-day trading on Friday, hitting $25.16. Imax Corporation has a 52 week low of $18.29 and a 52 week high of $26.73. The stock’s 50-day moving average is currently $24.47. The company has a market cap of $1.660 billion and a P/E ratio of 49.51.
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