IMAX Corporation (IMAX) PT Raised to $24 at Benchmark
- Wall Street surges to all-time closing high on earnings, economic revival
- Was Intel's (INTC) Second Quarter a Speedbump or Inflection?
- Twitter (TWTR) Gains After Beating Q2 Estimates, Analysts Raise PTs as Brand Recovery Accelerates
- U.S. dollar on track for second week of gains; Fed meeting in focus
- Snap (SNAP) Surges 17% After Smashing Q2 Views Across the Board to Yield a Dozen Price Target Hikes
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ambuja Cements Ltd. (ACEM:IN) PT Raised to INR350 at JPMorgan
- JSW Steel Ltd. (JSTL) PT Raised to INR665 at Kotak
- UPDATE: Intel (INTC) PT Lowered to $70 but Morgan Stanley Sees the Turnaround Progressing with an EPS Hard Deck of $4.50
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!