Imax 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 Stre…
“What do we have to do to demonstrate to you and Goldman that we are not an exhibitor? And, by the way, almost every other analyst has a buy on us,” he said, calmly, but in an unusual exchange for an investor conference.
Laszczyk called the rating is “a function of the broader theatrical ecosystem” and Imax being an “extension” of a highly-levered and possibly structurally altered exhibition sector, but said he appreciates differences in the Imax business model, and the company’s success. “We are, I just think, more broadly more negative on the box [office] then we are on any one particular company.”
Gelfond kep on. “I promise, I’ll drop it after this,” he said, “but when I look at Goldman’s five-year model [for Imax], it has a 20% compound annual growth rate…and I look at other Goldman coverage…and companies that have a 20% CAGR are almost all buys.” Referring to the analyst’s commeont on “structural” issues, he said the exhibition business is looking up as “
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