IMAX, China's WASU Group announces content delivery agreement for IMAX-TCL IMAX and TCL Multimedia Technology Holdings announced a joint-venture partnership with Wasu Digital TV Media Group as part of their IMAX TCL home theatre initiative. As one of China's largest digital content providers and one of five operators approved by the state to deliver multimedia content to the home, WASU will license and distribute IMAX-enhanced Hollywood and Chinese current theatrical and other content to the IMAX-TCL premium home theatre system.
IMAX upgraded to Buy from Hold at Canaccord Canaccord upgraded IMAX to Buy and increased its price target to $38 from $35. The firm sees reduced risk of a 2015 earnings miss and believes Q1 will either meet or beat its expectations. Canaccord said Furious 7 had a very strong opening weekend and is now expected to generate just under $400M domestically, above the $240M expected two months ago. Canaccord said IMAX shares now trade at a discount and suspects the IPO of IMAX China could occur sooner than expected.