Piper Jaffray Downgrades IMAX Corporation (IMAX) to Neutral

Piper Jaffray downgraded IMAX Corporation (NYSE: IMAX) from Overweight to Neutral with a price target of $28.00 (from $35.00) on lower box office and lasers expectations.

While analyst James Marsh still likes the long term story, they see the shares trading sideways as they expect consensus estimates to be revised lower (20%+) and focus to shift to the company’s recent lackluster growth. They think this puts pressure on laser deployments and on 2015 slate to jump start growth.

The firm cut FY 2015 EPS from $1.30 to $0.82 and FY 2016 EPS from $1.64 to $1.23.

For an analyst ratings summary and ratings history on IMAX Corporation click here. For more ratings news on IMAX Corporation click here.

Shares of IMAX Corporation closed at $25.87 yesterday.

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