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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oversized theater company IMAX (NYSE: IMAX ) jumped 10% today after it was upgraded by an analyst.
So what: Stifel Nicolaus analysts upgraded the company today ahead of a very important holiday season for the company. Mission: Impossible -- Ghost Protocol and The Adventures of Tintin are built to be successes at IMAX and should drive the company into 2012.
Now what: After a rough 2011 for IMAX films, a film slate lined with blockbuster movies could get IMAX back on the market's good side starting with Mission: Impossible. I pointed out the potential opportunity last week noting that a growing network of theaters and solid lineup of films could poise the stock for a boost. I don't like buying when an analyst upgrades a stock, but I am in full agreement that IMAX has lots of long-term opportunities and the stock is looking like a great value right now.
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