Gilford Securities Upgrades IMAX Corporation (IMAX) to Buy; Big Prospects via New China Deal with Biggest Theater Group
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Price: $52.83 +0.17%
Rating Summary:
15 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 7 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Gilford Securities upgraded IMAX Corporation (NASDAQ: IMAX) from Hold to Buy. PT increased from $26 to $36.
Gilford analyst says, "The just announced good news of a major Chinese joint-venture with largest Chinese theatre owner suggests even brighter prospects in H2’11E and beyond...The new deal with Wanda Cinema for 75 theatres across 2011-2014 is impressive and also bodes well in other countries. In 2010, IMAX had 40 theaters in China, thus acceleration is expected. IMAX noted last year the average ticket for 2-D movie, Inception, was $13 in China with high per theater revenue. What this should also indicate is that other foreign locations could similarly be poised to see new sales or joint-ventures to come. In Q4 last year, IMAX installed 4 locations/ wk. IMAX sees for now a 100/yr pace in the mid-term." (FY11 EPS Estimate raised to $1.35 and FY12 to $1.47)
For more ratings news on IMAX Corporation click here and for the rating history of IMAX Corporation click here.
Shares of IMAX Corporation closed at $27.57 yesterday.
Gilford analyst says, "The just announced good news of a major Chinese joint-venture with largest Chinese theatre owner suggests even brighter prospects in H2’11E and beyond...The new deal with Wanda Cinema for 75 theatres across 2011-2014 is impressive and also bodes well in other countries. In 2010, IMAX had 40 theaters in China, thus acceleration is expected. IMAX noted last year the average ticket for 2-D movie, Inception, was $13 in China with high per theater revenue. What this should also indicate is that other foreign locations could similarly be poised to see new sales or joint-ventures to come. In Q4 last year, IMAX installed 4 locations/ wk. IMAX sees for now a 100/yr pace in the mid-term." (FY11 EPS Estimate raised to $1.35 and FY12 to $1.47)
For more ratings news on IMAX Corporation click here and for the rating history of IMAX Corporation click here.
Shares of IMAX Corporation closed at $27.57 yesterday.
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