Entertainment To Be A Winner? Analyst Thinks Theatrical Environment Favorable For IMAX

Barrington Research analyst James C.Goss reiterated an Outperform rating on the shares of IMAX Corp IMAX with a price target of $20.
As theatres have reopened and feature film releases have become more numerous, IMAX U.S. box office has generally performed closer to its 2019 benchmark than the broader domestic industry, noted the analyst.
The blockbuster-heavy slate, consumer preference for a premium experience, and typical one or two-week runs on IMAX screens play into the performance.
Also Read: IMAX's High Profile Film Releases In Q4 & 2023 Make This Analyst Remain Bullish
Goss added the remainder of 2022 and the 2023 slate appears likely to continue to support this type of performance for IMAX.
The contracted backlog of nearly 500 screens would significantly grow the existing 1,600 screen base, mentioned the analyst.
He thinks the company is working to grow its in-home presence, in addition to its efforts to get more local language films and live events onto IMAX screens and leverage global content production across the footprint.
Price Action: IMAX shares are trading lower by 3.88% at $14.37 on the last check Friday.
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