NEW YORK (TheStreet) -- Shares of RealD are climbing after the company last night reported a lower than expected third quarter loss and announced that it would explore strategic alternatives. RealD licenses 3D and other visual technologies. WHAT'S NEW: RealD reported a third quarter loss per share of (23c), versus the consensus outlook of (26c). The company's revenue came in slightly below expectations. However, RealD announced that its board had decided to explore a "full range" of potential strategic alternatives. The company added that it had engaged Moelis & Company as its financial adviser to assist in its evaluation of such alternatives. ANALYST REACTION: In a note to investors today, Piper Jaffray analyst James Marsh wrote that RealD's decision to explore strategic alternatives puts a floor in the stock of $12 per share. The company's domestic 3D trends remain stable as it expands its overseas business, added Marsh, who continued to recommend buying the stock. Piper has an Overweight rating and $15 price target on RealD shares. Barrington upgraded RealD to Outperform from Market Perform this morning, echoing the sentiment that the company's strategic evaluation will provide support for shares. The firm, which also has a $15 price target for the stock, believes an improved film slate over the next several quarters will help profitability. PRICE ACTION: In mid-morning trading, RealD gained 9.5% to $12.08. Reporting by Larry Ramer.
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