Imax (IMAX) Cutting Estimates To Reflect Box Office Performance - Stifel

Stifel analyst Benjamin Mogil cut 2Q16 revenue estimates on IMAX Corporation (NYSE: IMAX) to reflect 1Q16 box office performance to date and future box office expectations. The bulk of the reduction is tied to the under performance from "Alice Through The Looking Glass" and "Teenage Mutant Ninja Turtles: Out of The Shadows" as well as lower expectations for "Independence Day: Resurgence". A portion of our IMAX China Box Office reduction is due to the timing of the release of "Teenage Mutant Ninja Turtles: Out of the Shadows", which will occur in 3Q16.

No change to Buy rating ot $45 PT.

For an analyst ratings summary and ratings history on IMAX Corporation click here. For more ratings news on IMAX Corporation click here.

Shares of IMAX Corporation closed at $30.07 yesterday.

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