Piper Jaffray Maintains Overweight on RealD (RLD)

Piper Jaffray is out with its report today on RealD (NYSE: RLD), maintaining Overweight.

In a note to clients, Piper Jaffray writes, "We believe RLD shares are poised to snap back sharply from their 22% decline as the robust 3D film slate ramps up, investors recognize that the 'glasses business' is in fact ahead of schedule, and the consumer 3D market starts to take shape driven by impressive passive technology. RLD bears have had free rein of late, articulating their case in a vacuum. And it has been effective: technically the chart looks broken, short interest is at an all-time high and RLD holders are understandably jittery. Despite the perceived gloom, we think now is the time for investors to size up their RLD positions."

Shares of RLD closed Monday at $23.82.