- Barrington Research Analyst James C.Goss reiterated an Outperform rating on shares of IMAX Corp IMAX with a Price target of $20.
- As theaters have reopened and feature film releases have proliferated, the IMAX US box office has generally performed closer to its 2019 benchmark than the broader domestic industry, the analyst noted.
- The blockbuster-heavy slate, consumer preference for a premium experience, and typical week- or two-week runs on IMAX screens all play into performance.
- also read: IMAX’s high-profile fourth-quarter movie releases and 2023 keep this analyst bullish
- Goss added the rest of 2022, and the 2023 list seems likely to continue to support that kind of performance for IMAX.
- The contracted backlog of nearly 500 screens would add significantly to the existing base of 1,600 screens, the analyst said.
- He believes the company is working to expand its in-home presence, in addition to its efforts to bring more local language films and live events to IMAX screens and leverage global content production across its footprint.
- Price promotion: IMAX shares trade 3.88% lower at $14.37 on the latest check Friday.
- Photo via company
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