Imax price target raised to $24 from $23 at Benchmark

Benchmark analyst Mike Hickey raised the firm’s price target on Imax to $24 from $23 and keeps a Buy rating on the shares. Global box office for Q3 “significantly exceeded” the firm’s estimate, achieving a “remarkable” 141% of its pre-pandemic performance for the same quarter, the analyst tells investors. This performance underscores “the impressive ongoing recovery of IMAX,” added the analyst, who anticipates that China could present further recovery potential in 2024.