Morgan Joseph Starts RealD (RLD) at Buy; Dominant Market Share
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Price: $11.00 --0%
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 7
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 6 | New: 7
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Morgan Joseph initiates coverage on RealD (NYSE: RLD) with a Buy. PT $28.
Morgan analyst says, "Dominant Market Share Within a Rapidly Expanding 3-D Marketplace - RealD theaters account for roughly 80% of domestic gross box office revenues and maintain over 50% of 3-D commercial screens worldwide. Over the past twelve months, RealD's total screen installation base has exceeded 15,000, with year-over-year system growth of 182%."
"While 3-D eyewear sales are currently producing a $16mm drag on RealD's
annual operating profits, we expect product sales to break even by FY12. Outside of the near-term costs, we believe RealD's eyewear model is an effective tool that further differentiates the company from its competitors via materially lower purchase and maintenance costs."
For more ratings news on RealD click here and for the rating history of RealD click here.
Shares of RealD closed at $22.99 yesterday.
Morgan analyst says, "Dominant Market Share Within a Rapidly Expanding 3-D Marketplace - RealD theaters account for roughly 80% of domestic gross box office revenues and maintain over 50% of 3-D commercial screens worldwide. Over the past twelve months, RealD's total screen installation base has exceeded 15,000, with year-over-year system growth of 182%."
"While 3-D eyewear sales are currently producing a $16mm drag on RealD's
annual operating profits, we expect product sales to break even by FY12. Outside of the near-term costs, we believe RealD's eyewear model is an effective tool that further differentiates the company from its competitors via materially lower purchase and maintenance costs."
For more ratings news on RealD click here and for the rating history of RealD click here.
Shares of RealD closed at $22.99 yesterday.
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