Morgan Joseph Reiterates a 'Buy' on IMAX Corporation (IMAX); China, Here We Come: IMAX 75 Theater JV Deal Improves Expansion Visibility

Morgan Joseph reiterates a 'Buy' on IMAX Corporation (NASDAQ: IMAX), PT $32.

Morgan analyst says, "IMAX announces the largest international theater deal in history...Deal plus backlog puts China on track to become IMAX's second largest market...Improves visibility for strong theater growth - 100 per year likely...Joint Venture deal appears to be somewhat similar to that of the U.S...No change to FY11 estimates, positives likely back-end weighted. With 25 Wanda 2011 installs likely back-end loaded and some potentially higher SG&A costs related to an increased Chinese presence, we expect 4Q benefits to offset potential near-term operating cost increases."

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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