Omar Mejias, an analyst from Wells Fargo, reiterated the Buy rating on IMAX (IMAX – Research Report). The associated price target is $26.00.
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Omar Mejias has given his Buy rating due to a combination of factors including optimism for the year 2025, driven by a strong film slate and potential for continued market share gains from record foreign language films. Despite lowering estimates for the fourth quarter and the first quarter due to lower global box office performance, particularly in China, Mejias remains confident in IMAX’s growth potential.
China’s box office is showing signs of a strong rebound, with a record-breaking performance during the Chinese New Year holiday period, indicating a resurgence in demand. Mejias anticipates a significant year-over-year growth in IMAX’s box office revenue in China, supported by a heavy slate of local language films. Additionally, Mejias expects installations to grow, with a focus on opportunities for IMAX to expand its market presence, further supporting the Buy rating.
Mejias covers the Communication Services sector, focusing on stocks such as Cinemark Holdings, IMAX, and Warner Music Group. According to TipRanks, Mejias has an average return of 11.5% and a 54.55% success rate on recommended stocks.
In another report released yesterday, Rosenblatt Securities also reiterated a Buy rating on the stock with a $28.00 price target.