Imax Corporation Shares Soar To 52-Week High on Sony Buyout Rumor (IMAX, SNE)

Shares of Imax Corporation IMAX are trading up 12% at $30.07 per share during the Friday morning trading session. The stock has been rising since the Daily Mail reported that Sony Corporation SNE may be ready to offer more than $40 per share for Imax Corporation. The day's range for shares of Imax Corporation (IMAX) has been between $29.30 and a 52-week high of $32.30 per share. The average price target of analysts who cover Imax Corporation is $25.05 per share. Volume of 11 million shares is already 11 times the daily average volume of 1 million shares. IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies. As of September 30, 2010, there were 470 IMAX theatres (348 commercial, 122 institutional) operating in 45 countries. Read more from Benzinga's Company news.