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    Mover: IMAX shares rise on analyst 'Buy' advice

    AP – Mon, Oct 10, 2011

    SAN FRANCISCO (AP) — Shares of IMAX Corp. rose more than the broader market Monday after the Morgan Joseph TriArtisan firm reiterated its "Buy" rating on the stock.

    THE SPARK: Analysts Jeffrey Blaeser and Rob Rosenhaus reiterated their "Buy" rating on the company's stock, as well as their $20 price target.

    THE BIG PICTURE: As movie theaters grapple with a shift toward the Internet and home entertainment, novelties such as the giant IMAX screens and 3-D glasses are among the lures that theaters are hoping will keep viewers paying to see movies on the big screen.

    THE ANALYSIS: The analysts wrote in a research note Monday that their "Buy" recommendation and their $20 price target for IMAX shares reflects their belief that increased installations of the movie screens will help third-quarter results, and that the planned release next year of a new Mission Impossible movie on hundreds of IMAX screens is a positive sign of the company's health.

    The company did not immediately respond to a request for comment.

    SHARE ACTION: The stock climbed 99 cents, or 6.2 percent, to $16.89, which still ranks it in the bottom half of its range for the year. The shares moved as the Dow rose 275 points, or 2.5 percent, to 11,377 in afternoon trading.

     

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