Imax Corp.'s strong box office share with library titles, such as Harry Potter and the Sorcerer's Stone, which won the weekend in China, led one analyst on Monday to laud the company's "impressive" performance.
Reiterating his "buy" rating and $18 price target on Imax's stock, B. Riley FBR analyst Eric Wold wrote in a report: "Although the reopening of movie theaters within China initially has been driven by re-released library films, we believe the higher-than-usual demand forImax screens with even this library content is a potentially solid early indicator of movie-going behavior coming out of the COVID-19 industry shutdown — and one that plays into our positive thesis aroundImax Corp.
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