Wall Street Zen upgraded Imax Corp. from hold to buy on Saturday. JPMorgan and Wedbush recently increased their price targets for the stock. The consensus price target now exceeds $50.
Imax reported second-quarter results on July 23. Earnings per share reached $0.43 for the period. This result beat the consensus estimate of $0.30.
Revenue totaled $102.8 million for the quarter. This figure outperformed the expected $96.09 million.
The success of Christopher Nolan’s film The Odyssey drove the outperformance. The CEO characterized the film as a transformational event for the company.