JANCO Partners Initiates Coverage on IMAX Corp (IMAX) with a Buy; Upside Margin Leverage, Studios/Exhibitors Win
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JANCO Partners iinitiates coverage on IMAX Corp (Nasdaq: IMAX) with a Buy rating. Price target $14.
JANCO analyst says, "With a likely increase in consistently released content which can be enhanced from the IMAX experience, we believe a second IMAX theater in many zones, or even multiplexes, is feasible over the next few years. The JV revenue sharing model (lower capex for exhibitors) is a key enabler for what should be an increasing slate of films in 2D and 3D which are well matched for the IMAX experience...Our price target represents a premium to the film exhibitors and is generally inline with large film studio EBITDA multiples. IMAX has greater pricing and margin leverage than the exhibitors, and more predictable film performance at the box office vs. the film studios (selectively picking franchise titles for IMAX in a win-win for the film studios)."
To see all the upgrades/downgrades on shares of IMAX, visit our Analyst Ratings page.
IMAX Corporation, together with its subsidiaries, operates as an entertainment technology company worldwide.
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