IMAX Corporation (IMAX) PT Lowered to $27 at MKM Partners

MKM Partners analyst Eric Handler lowered the price target on IMAX Corporation (NYSE: IMAX) to $27.00 (from $28.00) while maintaining a Buy rating, noting estimates are moving lower for 4Q but the good outweighs the bad as 20109 approaches.

Handler commented, "Based on weaker than anticipated 4Q gross, global box office results, we are lowering our 4Q18 estimates. While it is a disappointing way to end the year we do note our revised 2018 adjusted EBITDA projection of $133mn (-4%) is slightly higher than our initial view of $130mn, which we had modeled following 4Q17 earnings back in late February. Furthermore, the growth outlook for 2019 appears favorable for IMAX."

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