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Fly News Breaks for June 8, 2017
IMAX
Jun 8, 2017 | 15:24 EDT
Canaccord analyst Aravinda Galappatthige said shares of IMAX have fallen 25% over the past two months driven by weekly box office results that indicate Q2 is underperforming expectations. He believes IMAX's valuation appears considerably low even with lower PSA assumptions and said the booked backlog and installed base support his Buy rating and views the weakness as overdone. The analyst did lower his price target to $33 from $39 to reflect downward estimate revisions.
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