IMAX Ascends As 'Avatar: The Way of Water' Becomes Its Highest Grossing Film Of 2022

IMAX Corp IMAX said "Avatar: The Way of Water" ended 2022 as its highest grossing release of the year.
The total IMAX global box office is $160 million for the movie.
James Cameron's sci-fi sequel now stands as the fourth highest-grossing IMAX release of all time.
The success of "Avatar: The Way of Water" helped lift IMAX to $848.5 million in global box office for the year, up 33% over 2021.
"IMAX has emerged as the destination of choice for audiences worldwide to experience 'Avatar: The Way of Water', resulting in a surge of momentum across our business — from system installs to sales activity to our business in China," said CEO Rich Gelfond.
Rosenblatt Securities analyst Steve Frankel reiterated a Buy rating on the shares of Imax with a price target of $22.00.
The analyst said IMAX continues to gain share, boosted by the success of "Avatar: The Way of Water."
Also Read: This Analyst Remains Bullish On IMAX As 'Avatar: The Way of Water' Continued To Dominate
Price Action: IMAX shares are trading lower by 0.14% at $14.64 on the last check Tuesday.
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