Roth Capital raised the firm’s price target on Imax (IMAX) to $40 from $36 and keeps a Buy rating on the shares. The company’s strategic initiatives have helped drive record Q3 global box office results and its second-highest quarterly gross ever, while its market share continues to rise and local language titles have served as a source of strength, the analyst tells investors in a research note. Imax network expansion is occurring at a faster-than-projected pace and is taking place for the most part in markets with above-average revenue per screen, the firm added.
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