BTIG Upgrades RealD (RLD) to Neutral as Shares Near $18/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: 13 | Down: 11 | New: 14
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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BTIG upgraded shares of RealD (NYSE: RLD) to a Neutral rating from its previous rating of Sell and is removing its price target as shares begin to approach the $18 area.
The firm notes that the demand for 3D in the U.S. is not as high as expected as only 43 percent of people who viewed Harry Potter went to see it in 3D. Harry Potter’s 2D attendance per screen was 42 percent higher than the 3D attendance per screen.
Overseas showed stronger results with 61 percent of viewers going to see the movie in 3D, but still well below expectations. Pirates of the Caribbean had 66 percent and Transformers had 70 percent of its international box office views in 3D.
BTIG reiterates its belief that company's should only release around three movies a year in 3D and that they should really make sure the experience is different from the 2D. The demand for 3D is falling in the U.S. and is likely to internationally.
For more ratings news on RealD click here and for the rating history of RealD click here.
Shares of RealD closed at $20.09 yesterday.
The firm notes that the demand for 3D in the U.S. is not as high as expected as only 43 percent of people who viewed Harry Potter went to see it in 3D. Harry Potter’s 2D attendance per screen was 42 percent higher than the 3D attendance per screen.
Overseas showed stronger results with 61 percent of viewers going to see the movie in 3D, but still well below expectations. Pirates of the Caribbean had 66 percent and Transformers had 70 percent of its international box office views in 3D.
BTIG reiterates its belief that company's should only release around three movies a year in 3D and that they should really make sure the experience is different from the 2D. The demand for 3D is falling in the U.S. and is likely to internationally.
For more ratings news on RealD click here and for the rating history of RealD click here.
Shares of RealD closed at $20.09 yesterday.
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