Rosenblatt Securities raised its price target on IMAX shares to $65 from $60, maintaining a "buy" rating. The updated forecast follows IMAX's announcement of a record-breaking summer, which generated $728 million in global box office receipts, a 73% increase over its previous record from 2023. The firm cited these strong results as the basis for its positive outlook.
Separately, Lucasfilm and Disney announced that two "Star Wars" films will be released in the IMAX 70mm format in 2027. In celebration of its 50th anniversary, the original 1977 "Star Wars" will be screened in IMAX for the first time, along with the new film "Star Wars: Starfighter." This move is expected to bolster IMAX's future pipeline with high-demand, premium-format releases.