BTIG Sees No Need for RealD's (RLD) System Following Kodak/IMAX Deal
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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: 12 | New: 19
Rating Summary:
7 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 19
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Shares of RealD (NYSE: RLD) are getting whacked Monday following news of a deal between Kodak (NYSE: EK) and IMAX (Nasdaq: IMAX).
RealD shares last traded at $9.94, down about 7.9 percent from Friday's closing price. Shares of Eastman Kodak are up 6 percent to $1.31.
Likely adding to downside Monday, BTIG's Richard Greenfield issued a research note earlier highlighting the fact that RealD's cinema system may no longer be needed given the Kodak/IMAX deal. The analyst noted the "Kodak solution doubles the light output, addressing a key problem of current generation 3D exhibition (often feels like going to the theater with sunglasses on), while utilizing a similar low-cost disposable 3D eyewear model."
BTIG maintains a Neutral rating on shares of RealD.
RealD shares last traded at $9.94, down about 7.9 percent from Friday's closing price. Shares of Eastman Kodak are up 6 percent to $1.31.
Likely adding to downside Monday, BTIG's Richard Greenfield issued a research note earlier highlighting the fact that RealD's cinema system may no longer be needed given the Kodak/IMAX deal. The analyst noted the "Kodak solution doubles the light output, addressing a key problem of current generation 3D exhibition (often feels like going to the theater with sunglasses on), while utilizing a similar low-cost disposable 3D eyewear model."
BTIG maintains a Neutral rating on shares of RealD.
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