Stifel Nicolaus Concerned with 2H Expectations for IMAX (IMAX), Price Target Reduced to $27
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Price: $52.74 --0%
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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Shares of IMAX (Nasdaq: IMAX) are now down more than 9 percent Monday despite a strong weekend at the box office. Captain America topped the latest Harry Potter adventure with sales of $65.8 million this weekend. Harry Potter saw total sales of $48.1 million during its second weekend in theaters.
Traders are attributing the weakness to concerning comments from Stifel Nicolaus' Ben Mogil this morning. The analyst reduced his price target on IMAX by 16 percent from $32 to $27, saying earnings expectations for the second half of this year are too optimistic.
Mogil maintains a Hold rating on shares of IMAX.
The stock last traded at $25.96.
Traders are attributing the weakness to concerning comments from Stifel Nicolaus' Ben Mogil this morning. The analyst reduced his price target on IMAX by 16 percent from $32 to $27, saying earnings expectations for the second half of this year are too optimistic.
Mogil maintains a Hold rating on shares of IMAX.
The stock last traded at $25.96.
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