Macquarie raised the firm’s price target on Imax to $26 from $24 and keeps an Outperform rating on the shares. The company reported a 50% EBITDA beat in Q2 and management remains optimistic around an accelerating film slate and installation activity, the analyst tells investors in a research note. The firm says Imax remains one of its top small-cap leisure picks given the embedded growth from its backlog, improving margins and free cash flow, and exposure to a strong blockbuster pipeline.
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