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Goldman cuts IMAX China (01970) to HK$27.18

  Goldman Sachs cut its target price for IMAX China
Holding (01970) to HK$27.18 from HK$28.36, and reiterated its "buy" rating as the company
is well positioned to benefit from a recovering movie market in China.
  The research house said IMAX China's 2017 revenue growth of 7% yoy was in line with its
expectation; net income was up 22% yoy, 5% above Goldman's expectation, mainly due to
lower SG&A expense.
   Goldman thinks the company's new programming strategy would continue to work well but 
it cut its 2018-21 EPS estimates by 3-4% to reflect lower lower screen installation
guidance. 

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