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Fly News Breaks for March 22, 2016
IMAX
Mar 22, 2016 | 14:59 EDT
Dougherty said shares are being pressured on news venture investors FountainVest and CMC are selling a portion of their stakes in Imax China ahead of the April 8 lock-up expiration. Analyst Steven Frankel said Imax China growth prospects justify the company's valuation, and in turn, makes Imax compelling at current levels. Frankel rates Imax a Buy with a $40 price target on share.