BUZZ-IMAX Corp: Canaccord Genuity upgrades to "buy"

Mon Apr 6, 2015 1:48pm EDT
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** Entertainment technology company's shares up 4.8 pct at $35.91

** Canaccord Genuity upgrades stock to "buy" from "hold," citing higher box office expectations of films slated for release in 2015

** Brokerage also raises price target to $38 from $35; Median price target on stock is $39, according to Thomson Reuters data

** "Furious 7, released in April, is now expected to generate just under $400 mln domestically in its first month, well above the $240 mln expected two months ago," analysts wrote in a note

** "The strong results here would be an excellent lead-in to Avengers 2, which would likely be the biggest movie of 2015," brokerage adds

** Of 16 brokerages covering stock, 12 have a "buy" or higher ratings, three rate it "hold" rating and one rates it "sell"

** Up to Thursday's close, stock had risen about 11 pct this year