Wedbush raises Imax's PT, shares up

IMAX China Holding

03/09/2024 14:40

(Updates)
    ** Shares of Imax  IMAX.N  rise 3% to $21 
    ** Wedbush raises price target on Imax to $26 from $24;
rates stock "outperform"
    ** Brokerage says co is gaining market share as moviegoers
increasingly prefer IMAX screens
    ** "IMAX is diversifying with more alternative content to
boost revenue further," Wedbush says 
    ** Brokerage raises Q4 revenue estimates to $122 mln, based
on higher expectations for content heading into the quarter
    ** Nine of 11 brokerages rate IMAX stock "buy" or higher,
one "hold" and one "sell" or lower; their median PT is $26 -
LSEG data
    ** As of previous close, IMAX stock up 41% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com;))