/Wedbush upgrades Imax, calls cinema stock a Covid recovery story and sees a 20% rally
Wedbush upgrades Imax, calls cinema stock a Covid recovery story and sees a 20% rally

Wedbush upgrades Imax, calls cinema stock a Covid recovery story and sees a 20% rally

Customers buy tickets in a Wanda Imax cinema in Weifang, China.

Zhang Peng | LightRocket | Getty Images

Movie theater chain Imax Corp. stands to benefit from pent-up demand for out-of-home entertainment, Wedbush said as the Wall Street firm upgraded the stock.

Shares of Imax rose 3% in premarket trading following the call. The stock has risen more than 18% in 2021 after falling double digits last year amid the pandemic disruptions.