Imax price target lowered to $25 from $26 at Macquarie

Macquarie analyst Chad Beynon lowered the firm’s price target on Imax to $25 from $26 and keeps an Outperform rating on the shares. The analyst says U.S. box office sales were $1.09B Q4-to-date through November, flat year-over-year and down 32% versus the same period in 2019. The firm remains comfortable with its Q4 U.S. box office forecast of $2B. Imax and Cinemark remain its top theatre picks.