In a report released today, Mike Hickey from Benchmark Co. reiterated a Buy rating on IMAX, with a price target of $30.00.
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Mike Hickey has given his Buy rating due to a combination of factors that highlight IMAX’s strong market position and growth potential. The company’s impressive Q2 box office performance, which exceeded expectations, underscores its robust revenue generation capabilities. IMAX’s unique position in premium cinema, supported by a compelling lineup of upcoming releases, is expected to drive further growth.
Additionally, the company’s strategic expansion in global system installations and its strong backlog indicate sustained demand for its offerings. The anticipated release of high-profile titles, many of which are specifically formatted for IMAX, is likely to boost box office revenues and ticket sales. With reaffirmed guidance for significant box office and EBITDA growth, along with a solid valuation, IMAX presents a promising investment opportunity, justifying the Buy rating.
Hickey covers the Communication Services sector, focusing on stocks such as IMAX, Electronic Arts, and National Cinemedia. According to TipRanks, Hickey has an average return of 5.4% and a 63.23% success rate on recommended stocks.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $36.00 price target.