Imax Price Target Raised To $26 From $18 At B. Riley Securities

B. Riley Securities analyst Eric Wold raised the firm's price target on Imax (IMAX) to $26 from $18 and reiterates a Buy rating on the shares.

The positive underlying demand trends within the industry along with Imax's "improving position" provide a rationale to raise the price target, Wold tells investors in a research note. The "strong" opening weekend results for "Wonder Women 1984" in the face of numerous headwinds is another indicator that movie watchers want to return to theaters when given the chance, says the analyst. He believes this provides an "attractive setup" for the industry as economies begin to reopen in 2021. In addition, 2021 brings an "extremely IMAX-friendly" movie slate, contends Wold.

Imax is the analyst's favorite play in the media and entertainment space heading into the pandemic recovery.

 

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