Imax to benefit from global trend to more blockbusters, says Macquarie

Macquarie analyst Chad Beynon reiterates Imax as one of the firm’s top picks in the Theater space, and maintains an Outperform rating on the shares with a price target of $26 after hosting investor meetings with CEO Richard Gelfond and CFO Natasha Fernandes. The firm believes the company stands to benefit from the global trend towards more blockbusters, while also continuing to diversify into local language films and other content. Imax continues to see solid momentum in signings, Macquarie adds, noting that as of Q2, the company has signed 84 systems year-to-date, nearly double the amount in 2022, with a backlog of almost 500, which sets the stage for accelerated network expansion.