Imax CEO Grills Goldman Sachs Analyst Over ‘Sell’ Rating On Stock – “What Do We Have To Do?”
deadline.comImax CEO Rich Gelfond turned a media conference Q&A back on the host today, grilling a Goldman Sachs analyst about the firm’s two-year ‘sell’ rating on the stock when, he said, much of the Street has a ‘buy’.
The two were discussing Gelfond’s $1.1 billion box office projection for Imax, made earlier this year, and if he wanted to revise that upward given the strong summer and success of Oppenheimer.
He didn’t, but indicated a shift might come at the next quarterly earnings call. “But Stephen, that gives me the opportunity to ask you a question,” he said, addressing Goldman analyst Stephen Laszczyk. “Goldman has had a sell on Imax for two years.
First the price target was $12, then another sell at $14, then another sell at $15. So you keep moving the price target up, and it’s always a sell…And now its price is $19 and it’s still a sell” when the company is on track to have one of its best years. “What do we have to do to demonstrate to you and Goldman that we are not an exhibitor?
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