IMAX (IMAX) Bet to Over Index Force Awakens Pays Off - Rosenblatt

Rosenblatt analyst, Martin Pyykkonen, published a note highlighting how IMAX Corporation (NYSE: IMAX) received more than its share from the Force Awakens pie. IMAX over-indexed domestically and delivered solid foreign market share performance for the opening weekend of the highly anticipated release of Disney’s Star Wars: The Force Awakens. The film’s domestic box office was ~$238 million on 4,134 screens but IMAX is likely to receive a more than that proportional benefit. IMAX’s 12.7% domestic box office share was delivered with only ~8% IMAX screens showing the film vs. the very wide domestic opening release on 4,134 screens for the weekend.

The key points specifically for IMAX on the opening weekend of Star Wars included:

1) 12.7% share of the domestic box office on just 8% of total screens for the film

2) $48M total global IMAX box office for the opening weekend (9.3% share)

3) 6.4% share of opening w/e foreign box office, even before China opened

No change to the Buy rating or $47 price target on IMAX, based on ~16x EV/EBITDA on our full year 2016 adjusted EBITDA estimate of $187 million.

For an analyst ratings summary and ratings history on IMAX Corporation click here. For more ratings news on IMAX Corporation click here.

Shares of IMAX Corporation closed at $37.83 yesterday.

You May Also Be Interested In

• IMAX Corp. (IMAX) Tops Q1 EPS by 7c
• IMAX Corporation Reports First Quarter 2024 Earnings Results
• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading