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Fly News Breaks for February 24, 2020
IMAX
Feb 24, 2020 | 09:57 EDT
Barrington analyst James Goss lowered the firm's price target on Imax to $20 from $24 and keeps an Outperform rating on the shares. The analyst says that while Imax faced "significant" short-term headwinds related to its operations in China from the coronavirus outbreak, the overall impact to be temporary as the theatrical experience broadly and the Imax experience in particular remains highly valued by consumers. The current coronavirus outbreak makes projecting installations in the Chinese market uncertain, but overall growth expectations for the rest of Imax's markets remain robust, Goss tells investors in a research note.