Imax price target raised to $32 from $30 at Benchmark

Benchmark analyst Mike Hickey raised the firm’s price target on Imax (IMAX) to $32 from $30 and keeps a Buy rating on the shares following a “strong” Q2. The company posted a record Q2 North American box office of $143M and grew global box office 41% to $281.1M, driving global market share to 3.6% on less than 1% of screens. Imax’s investment case is anchored by structural tailwinds in premium theatrical experiences, margin-rich system sales, and increasing adoption of Filmed for Imax content by studios, Benchmark told investors in a research note. The firm added that it is transitioning its valuation period from FY25 to a blended, normalized FY25/FY26 outlook.