IMAX (NYSE: IMAX) stock was something of a star entertainer on Hump Day. The large-format cinema company posted a relatively large gain that trading session; it rose by nearly 3% on the back of a very positive ****** yst update issued in the morning.
Benchmark prognosticator Mike Hickey felt compelled to reiterate his buy recommendation and $60-per-share price target on IMAX in a new note. That's quite the bullish outlook, as that $60 is 56% higher than the specialty entertainment company's most recent closing share price.
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In Hickey's opinion, according to reports, investors had been selling IMAX on diminished expectations for second-quarter box office receipts and the fading hope that management was looking to sell the company, presumably at a generous premium.
This sell-off has notably undervalued the stock, Hickey wrote, and meanwhile, its fundamentals continue to look solid, and this summer's movie slate appears very promising.
Benchmark prognosticator Mike Hickey felt compelled to reiterate his buy recommendation and $60-per-share price target on IMAX in a new note. That's quite the bullish outlook, as that $60 is 56% higher than the specialty entertainment company's most recent closing share price.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
In Hickey's opinion, according to reports, investors had been selling IMAX on diminished expectations for second-quarter box office receipts and the fading hope that management was looking to sell the company, presumably at a generous premium.
This sell-off has notably undervalued the stock, Hickey wrote, and meanwhile, its fundamentals continue to look solid, and this summer's movie slate appears very promising.
2 months ago
