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Imax Analyst Sees Upside In China Theater Reopenings In May, “Years Of Liquidity”
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deadline.com
deadline.comBy Dade Hayes Finance Editor Imax has “multiple years of liquidity” on its balance sheet and is poised to benefit from the reopening of movie theaters in China as early as mid-May, according to one veteran analyst tracking the company.
Eric Handler of MKM Partners reiterated his “buy” rating on Imax shares in a report Wednesday, though he lowered his 12-month price target on its shares to $20 from $24.
Imax has been one of several companies with stakes in exhibition to see its stock get pummeled in recent months as COVID-19 has shuttered movie theaters around the globe.
Unlike exhibition circuits, Imax has an “asset-light business model,” Handler noted. Increasingly, it depends more on technology services than on its traditional base of
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