Imax price target raised to $30 from $27 at Rosenblatt

Rosenblatt analyst Steve Frankel raised the firm’s price target on Imax to $30 from $27 and keeps a Buy rating on the shares. Imax “handily exceeded” Q2 expectations, despite some box office headwinds, while the success of Oppenheimer sets the stage for a strong Q3 and “reinforces the value” of the Imax brand, the analyst tells investors. The firm is raising its estimates given the strength seen in Q2 and the set-up for the balance of the year, the analyst added.