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Fly News Breaks for February 13, 2020
IMAX
Feb 13, 2020 | 09:29 EDT
B. Riley FBR analyst Eric Wold lowered his price target for Imax to $26 from $30 while reiterating a Buy rating on the shares. The analyst reduced his Q1 estimates on the potential box office impact from the coronavirus outbreak in China and subsequent shut-down of the exhibition industry, which he says is becoming "increasingly clear." Wold, however, does not believe this represents enough of a risk to warrant a rating downgrade of Imax shares. Not only is Imax "extremely well positioned" in China and other regions as the 2021 film slate comes into view, the company is the only potential acquisition candidate within the exhibition coverage universe, Wold tells investors in a research note.
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