Imax price target raised to $42 from $37 at Barrington

Barrington raised the firm’s price target on Imax (IMAX) to $42 from $37 and keeps an Outperform rating on the shares after the company provided an updated outlook for its screen base during its investor day meeting, now targeting a screen base of 4,466, versus the prior targeted installation base is 3,619 and an install base of 1,759 at the end of September. The firm’s new target also reflects the outlook for profit growth from box office improvement, the analyst tells investors.