Morgan Stanley initiates IMAX with 'overweight' on premium entertainment demand

By Reuters News

** Morgan Stanley initiates cinema operator IMAX IMAX.N with "overweight" rating; sets PT at $63, implying a 14.2% upside to the stock's last close

** Brokerage sees "the premium out-of-home entertainment IMAX business model as largely AI proof" and expects "sustainable long-term box office/network growth"

** Morgan Stanley now estimates overall North America box office of $10.7 bln and $10.9 bln in 2026 and '27, respectively

** The average rating of 14 analysts is "buy;" their median PT is $58 — data compiled by LSEG

** Up to last close, the stock has risen 49.2% YTD

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