IMAX Analyst Bullish On Stock As Box Office Revenue Shows Strong Recovery
Portfolio Pulse from Anusuya Lahiri
Barrington Research analyst James Goss reiterated an Outperform rating for Imax Corp (NYSE:IMAX) with a $24 price target. Goss highlighted IMAX's strong recovery in box office revenue and expects the company to achieve 2019 levels of total box office. The company's revenues were $98.0 million, above estimates, and EBITDA of $32.8 million was up from the year-ago $25.4 million. IMAX also announced plans to install 84 screens in 2023 and offered to repurchase the remaining public interest in IMAX China.
July 28, 2023 | 4:44 pm
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IMAX's strong recovery in box office revenue and plans for expansion have led to an Outperform rating from Barrington Research. The company's revenues and EBITDA have increased, and it plans to install 84 screens in 2023.
The Outperform rating from Barrington Research indicates a positive outlook for IMAX. The company's strong recovery in box office revenue, increased revenues and EBITDA, and plans for expansion are likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100