Piper Jaffray Raises Estimates for RealD Inc

Piper Jaffray has published a report on RealD Inc (NYSE: RLD) raising estimates for the 3D technology licencor.

In the report, Piper Jaffray wrote, "RealD reported excellent operating results after the close beating EPS (reported $0.17 vs. our $0.05 and consensus of $0.04). Net licensing revenues posted a record quarter and modestly ahead of our forecasts once adjusted for film timing ($35.7M vs. our adjusted $34.2M ($38.2 less timing difference of $4M). Noise was created by an apparent 'revenue miss' as wires compared gross revenues (glasses and licensing) to reported net licensing revenues. Glasses revenues were lighter than 'forecast,' but generated better than expected profit."

Piper Jaffray rated RealD an Overweight with a price target of $30.00. RealD closed Thursday at $18.42.