IMAX Corporation (IMAX) PT Raised to $42 at Rosenblatt

Rosenblatt analyst Steve Frankel raised the price target on IMAX Corporation (NYSE: IMAX) to $42.00 (from $37.00) while maintaining a Buy rating.

The analyst commented: "IMAX remains our favorite name, fueled by continued box office strength that drove Q3 GBO significantly ahead of expectations, setting the table for another quater of upside. With Q4 chock-full of potential hits, including the next installment of the Avatar series, we continue to pound the table on the stock. Despite its current box office success and the strength of the upcoming film slate, IMAX trades at less than 9x EV/26 EBITDA. Our new $42 PT is based on a 12x EV/EBITDA multiple well below the mid-teens multiple the stock has seen historically."

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