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SunTrust Robinson Humphrey Cuts IMAX to Neutral from Buy


SunTrust Robinson Humphrey cut its rating on IMAX (IMAX) to neutral from buy, explaining that the theater company isn't likely to get enough new deals to keep accelerating its growth.

Analyst Chris Rowen believes future IMAX growth will depend at least in part on top domestic chains coming back for more theatres. However, Rowen has not seen any moves in that direction. The analyst is concerned IMAX may resort to more revenue share arrangements to get deals signed, and says that while this is good for long term economics, it can wreak havoc on near term models.


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