IMAX's Remarkable Recovery - 3Q Box Office Earnings Highlight Strong Growth
Portfolio Pulse from Anusuya Lahiri
IMAX Corp's 3Q global box office earnings significantly exceeded analyst Mike Hickey's estimate, generating $347 million. The earnings achieved 141% of its pre-pandemic performance for the same quarter, indicating a strong recovery. Hickey maintained a Buy rating for IMAX and raised the price target from $23 to $24. However, IMAX shares traded lower by 2.14% at $19.40 on the last check.
October 09, 2023 | 6:13 pm
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IMAX's 3Q earnings exceeded estimates, indicating a strong recovery. The price target was raised, but shares traded lower.
The strong 3Q earnings indicate a robust recovery for IMAX, which is a positive signal for investors. However, despite the raised price target, the shares traded lower, which might be due to market volatility or other factors not mentioned in the article.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100