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Fly News Breaks for September 2, 2015
IMAX
Sep 2, 2015 | 05:48 EDT
B. Riley analyst Eric Wold attributes the 30% pullback in shares of IMAX since their mid-June peak to concerns around China. Investors are concerned that China's weak stock market could impact box office trends and put the planned IMAX China IPO at risk, Wold tells investors in a research note. The analyst, however, notes that correlations between economic changes and box office growth are historically very low, and that IMAX has a "strong" film slate for the remainder of the year. Further, he believes risk of a delayed IPO is already more than reflected in the shares. Wold points out his price target of $53 represents 75% upside from current share levels. He sees an attractive entry point and keeps a Buy rating on IMAX.