Why IMAX Stock Trounced the Market Today
Yahoo Finance ·
IMAX ( IMAX +2.72% ) 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 analyst 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. 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.
DYAX Investor Sentiment
Bullish (Long) 64% · Bearish (Short) 36%
391 participants
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