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Fly News Breaks for January 29, 2020
IMAX
Jan 29, 2020 | 07:23 EDT
Benchmark analyst Mike Hickey reduced his Q4 expectations for Imax as the global box office underperformed and he lowered his FY20 outlook to account for the coronavirus impact on Chinese New Year holiday film attendance, the potential deceleration in new theater openings and concern over the domestic box office. He maintains a Buy rating on Imax shares, but lowered his price target on the stock to $20 from $28 to account for his lowered projections.
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