Analyst Mike Hickey of Benchmark Co. reiterated a Buy rating on IMAX, boosting the price target to $40.00.
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Mike Hickey has given his Buy rating due to a combination of factors including IMAX’s exceptional global box office performance, which significantly exceeded expectations and industry trends. The company’s domestic and international markets have shown remarkable growth, with a notable increase in revenue and AEBITDA margins projected to rise in the coming years, indicating strong operational leverage.
IMAX’s future outlook is bolstered by a robust lineup of upcoming releases and strategic signings and installations that enhance its global presence. The company’s ability to capture market share in both Hollywood and local-language content further supports its growth trajectory. Additionally, the valuation reflects IMAX’s increasing earnings potential, with a raised price target based on anticipated earnings expansion and a favorable market position.
According to TipRanks, Hickey is a 5-star analyst with an average return of 7.0% and a 61.82% success rate. Hickey covers the Communication Services sector, focusing on stocks such as Electronic Arts, IMAX, and Genius Sports Limited.
In another report released on September 23, Barrington also reiterated a Buy rating on the stock with a $37.00 price target.