[ET Net News Agency, 15 June 2018] Macquarie Research cut its target price for IMAX
China Holding (01970) to HK$27.77 from HK$31.35, and downgraded its rating to "neutral"
from "outperform" noting the share price has rallied by 45% from the trough earlier this
year.
The research house expects its earnings to decline by 4% YoY in 2H, after a +36% YoY in
1H, with a 4% 2018-20 earnings CAGR. It expects IMAX China's BO growth momentum to
decelerate to 10% YoY in 2018 and 14% YoY in 2H, after 27% in 1Q.
Macquarie trimmed its 2019-20 earnings by 1-2%. It said the stock trades at a 24x 2019
PER or 4x PEG, compared to the historical average of 2x PEG. It would turn positive on
this name after seeing a more structural box office momentum recovery from the industry.
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01970 IMAX CHINA
Nominal 
6.980 0.000 (0.000%) Others
15/06/2018 10:03
[I-bank focus]MacQ downgrades IMAX China (01970) to HK$27.77
| Remark: | Real time quote last updated: 25/04/2024 08:26 |
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