IMAX Corporation (IMAX) PT Raised to $22 at Benchmark
- Nasdaq, S&P 500, set records as jobless claims decline
- Moderna (MRNA) Tops Q2 Street Estimates, Nabs $4.2 Billion from 199 Million Sold Vaccines That Yielded 93% Efficacy Through Six Months
- Oil rises over 1% as Mideast tensions face virus concerns
- Penn National Gaming (PENN) 'Scores' with $2 Billion Deal to Acquire theScore (SCR), Seen as 'Highly Strategic'
- Uber (UBER) Beats Estimates As Higher Labor Spend Drags on Profitability, Analysts Lower PTs but Remain Bullish
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: RBC Capital Downgrades Karyopharm Therapeutics (KPTI) to Sector Perform
- Trisura (TSU:CN) (TRRSF) PT Raised to Cdn$58 at National Bank Financial
- Paramount Resources Ltd (POU:CN) (PRMRF) PT Raised to Cdn$19 at National Bank Financial
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!