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Fly News Breaks for February 3, 2020
IMAX
Feb 3, 2020 | 08:19 EDT
Wedbush analyst Michael Pachter lowered his price target for Imax to $22 from $28 based on a 9-times EV-to-EBITDA from 10-times prior on his reduced 2020 EBITDA estimate. Despite the likely 2020 blip related to the coronavirus in China, long-term the analyst expects Imax to grow revenue and adjusted EBITDA as it expands internationally, grows its film slate with more IMAX DNA and local-language films, and maintains its reduced cost structure. Pachter has an Outperform rating on the shares.
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