IMAX - IMAX's Remarkable Recovery - 3Q Box Office Earnings Highlight Strong Growth | Benzinga
Benchmark analyst Mike Hickey maintained Imax Corp (NYSE: IMAX) with a Buy and raised the price target from $23 to $24.
IMAX's global box office (GBO) for 3Q significantly exceeded Hickey's estimate, generating $347 million, compared to his projected $237 million.
The GBO achieved a remarkable 141% of its pre-pandemic performance for the same quarter, underlining the impressive ongoing recovery of IMAX. Hickey anticipates that China could present further recovery potential in 2024.
Meanwhile, Domestic and International markets will likely match or exceed their pre-pandemic box office benchmarks, IMAX's most robust 3Q performance ever, and ranks as their second-best quarterly result. The ...