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Benzinga
Benzinga
Business
Triveni Kothapalli

Local-Language Hits Are Driving IMAX Profits: Analysts

Imax Wedbush
IMAX

IMAX Corp. (NYSE:IMAX) is riding a wave of box office strength and global expansion, with third-quarter receipts running ahead of forecasts and profitability climbing as higher-margin local-language hits and blockbuster IMAX-filmed releases fuel momentum.

Wedbush analysts, led by Alicia Reese, reiterated an Outperform rating and raised the 12-month price forecast to $39 from $35, citing higher filmed-for-IMAX output, local-language box office strength, and an expanding global footprint.

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