Rosenblatt Re-Rates Imax As Jurassic World Dominion Continues To Rule Charts

Rosenblatt analyst Steve Frankel reiterated a Buy rating on Imax Corp IMAX with a price target of $25.

Jurassic World Dominion raked $58.7 million in its second weekend, beating Lightyear to lead the domestic box office. 

To date, Dominion has earned $259 million. With a three-day opening of $51 million, Lightyear missed industry expectations of $70 million - $85 million. 

Top Gun: Maverick added $44 million to push its domestic total to $461 million. Overseas, Lightyear grossed a disappointing $34.6 million from 43 markets. 

Meanwhile, Jurassic World: Dominion added another $76.1 million to bring its international total to $372.4 million ($622.2 million globally), owning the winner's mantle in China, earning $92.8 million so far.

Top Gun: Maverick earned $39.7 million, bringing the international total to $419 million and $885 million globally, making it Tom Cruise's best-selling film.

IMAX dedicated most of its domestic capacity to Dominion, except for matinee showings of Lightyear. As a result, Imax accounted for 8% of Dominion's weekend for $4.6 million in GBO, bringing the film's domestic total to $20.5 million. 

Overseas, Dominion generated another $4.2 million in GBO, bringing the international GBO total to $20.9 million, including $9.9 million from China.

Lightyear added $1.7 million in GBO, with $1.1 million coming from domestic screens, and Top Gun: Maverick generated $2.1 million in international GBO to bring the film's global total to $79 million.

Price Action: IMAX shares traded higher by 1.6% at $15.21 on the last check Tuesday.

Photo via Wikimedia Commons