IMAX Corporation (IMAX) PT Raised to $22 at Benchmark

February 15, 2021 9:43 AM EST
Get Alerts IMAX Hot Sheet
Price: $15.37 +1.52%

Rating Summary:
    10 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
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Benchmark analyst Mike Hickey raised the price target on IMAX Corporation (NYSE: IMAX) to $22.00 while maintaining a Buy rating.

The analyst commented, "We believe the aggressive distribution of COVID-19 vaccines will mitigate the impact of the virus influence on the Theatrical business in the near term. We anticipate the vast majority of global IMAX premium large format screens will re-open in FY21, blockbuster films will release, and movie goers will return to theaters as we have witnessed in other key cinema markets including China and Japan. IMAX growth should benefit from a Theatrical performance shift toward blockbuster films, and effectively a movie-goer migration to the IMAX premium screen experience. We anticipate pent up demand for out of home entertainment."

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