IMAX box office surge drives Wedbush target hike
Wedbush raised its price target on IMAX to $60 from $54 and reiterated its Outperform rating, citing expectations for record third-quarter results. The firm estimates global box office on IMAX screens reached a record $712 million for the quarter, above its prior estimate of $401 million.
Why it matters — The update highlights expected record quarterly box office performance on IMAX screens and a higher analyst price target.