IMAX Corporation (IMAX) PT Raised to $25 at Benchmark on F9'S Record Post-Pandemic Results
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Benchmark analyst Mike Hickey raised the price target on IMAX Corporation (NYSE: IMAX) to $25.00 while maintaining a Buy rating on the strength of movie F9, particularly in China.
The analyst commented, "F9 delivered an estimated $162M in its 8-market debut and $135M from China alone, the best post pandemic start for a Hollywood blockbuster, and the 2nd best launch for the series in the country. F9 is the first Hollywood film in 2 years to debut more than $100M in China. IMAX delivered its biggest post-pandemic opening weekend for a Hollywood film on the release of F9. F9 generated $14M across 800 IMAX screens. We see continued evidence of a box office rebound and incremental optimism over the return of Hollywood films to China. IMAX appears to be gaining market share as movie-goers trend toward a premium theatrical experience. We are raising IMAX global box office projections based on reported results, movie-goer momentum, and a compelling film slate."
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