Imax shares rose on Tuesday after Goldman Sachs issued a bullish note on the stock.

What surprised was the investors note came from analyst Stephen Laszczyk, who has long been more bearish on Imax than peers and has moved off of a longstanding sell rating for Imax. “ While several of the key tenets of our original Sell Thesis have played out over the last ~three years, including i) slower-than-anticipated recovery in industry film supply, and ii) a range-bound overall domestic box office, we underestimated the degree to which Imax would be able to leverage its industry relationships and programming flexibility to take box office market share, return margins to pre-pandemic levels, and become an attractive potential M&A target,” Laszczuk wrote in the Nov. 25 report.

Imax shares rose

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