IMAX Corporation (IMAX) PT Raised to $24 at Benchmark

March 5, 2021 7:57 AM EST
Get Alerts IMAX Hot Sheet
Price: $16.94 +0.47%

Rating Summary:
    10 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Benchmark analyst Mike Hickey raised the price target on IMAX Corporation (NYSE: IMAX) to $24.00 while maintaining a Buy rating.

The analyst commented, "IMAX reported better than anticipated F4Q20 financial results, led by strength in China and Japan from local language films that generated results close to pre-pandemic levels. IMAX generated positive EBITDA and free cash flow for the first time since F1Q20, despite capacity limitations and continued delays in the Hollywood film slate. The Company has posted sequential quarterly improvement in EBITDA, cash flow, revenue, and box office since the global impact of the pandemic first took hold in F2Q20. The IMAX movie slate looks extremely good in the U.S., where we believe the pandemic will end in May, and think the domestic theatrical market will deliver huge bounce back growth. IMAX's balance sheet is exceedingly strong and has limited to nearly zero liquidity risk, in our view."



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