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MarketBeat
MarketBeat
Chris Markoch

IMAX Is Becoming Central to Moviegoing—And The Rally May Not Be Done

Imax Morgan Stanley Rosenblatt

Morgan Stanley initiated coverage on IMAX (NYSE: IMAX) on Sept. 24 at Overweight with a $63 price target. Its argument was simple: IMAX is becoming central to the moviegoing experience. Investors agreed, sending the stock to a new 12-month high.

Initiations deserve attention because firms choose where to spend their research time. Morgan Stanley chose a stock already up more than 40% this year.

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